Peapod Lane Capital LLC Makes New $1.22 Million Investment in Universal Electronics Inc. (NASDAQ:UEIC)

Peapod Lane Capital LLC purchased a new stake in Universal Electronics Inc. (NASDAQ:UEIC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 110,496 shares of the technology company’s stock, valued at approximately $1,215,000.

A number of other hedge funds also recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in Universal Electronics in the third quarter valued at about $163,000. JPMorgan Chase & Co. lifted its stake in Universal Electronics by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after purchasing an additional 4,591 shares during the period. Barclays PLC boosted its holdings in Universal Electronics by 33.5% during the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after purchasing an additional 5,512 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Universal Electronics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,144 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares in the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

Insiders Place Their Bets

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the sale, the chief executive officer now owns 283,615 shares in the company, valued at approximately $3,326,803.95. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.37% of the company’s stock.

Universal Electronics Stock Performance

NASDAQ UEIC opened at $9.09 on Thursday. The stock’s 50 day simple moving average is $10.60 and its 200 day simple moving average is $9.86. Universal Electronics Inc. has a one year low of $7.53 and a one year high of $14.20.

Wall Street Analyst Weigh In

Several brokerages recently commented on UEIC. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, November 8th. B. Riley upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $14.00 in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Universal Electronics from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.