Renaissance Technologies LLC Cuts Stock Holdings in Universal Technical Institute Inc $UTI

Renaissance Technologies LLC cut its stake in shares of Universal Technical Institute Inc (NYSE:UTI) by 9.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 657,030 shares of the company’s stock after selling 67,600 shares during the period. Renaissance Technologies LLC’s holdings in Universal Technical Institute were worth $23,719,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in UTI. Gibbs Wealth Management increased its holdings in shares of Universal Technical Institute by 66.3% during the 1st quarter. Gibbs Wealth Management now owns 32,881 shares of the company’s stock worth $1,187,000 after buying an additional 13,105 shares during the last quarter. Sei Investments Co. boosted its holdings in Universal Technical Institute by 371.5% in the first quarter. Sei Investments Co. now owns 139,682 shares of the company’s stock valued at $5,043,000 after acquiring an additional 110,056 shares during the last quarter. Militia Capital Management LLC purchased a new stake in Universal Technical Institute during the first quarter valued at about $7,220,000. PNC Financial Services Group Inc. grew its position in Universal Technical Institute by 543.5% during the first quarter. PNC Financial Services Group Inc. now owns 888 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Universal Technical Institute by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,296,989 shares of the company’s stock worth $46,826,000 after purchasing an additional 9,153 shares during the period. 75.67% of the stock is owned by hedge funds and other institutional investors.

Universal Technical Institute Price Performance

Shares of NYSE UTI opened at $41.23 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.17 and a quick ratio of 1.17. Universal Technical Institute Inc has a 1-year low of $21.29 and a 1-year high of $51.34. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 3.43 and a beta of 1.23. The business has a 50-day moving average of $41.67 and a 200-day moving average of $36.54.

Universal Technical Institute (NYSE:UTI) last announced its earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter. The business had revenue of $221.40 million for the quarter, compared to the consensus estimate of $221.61 million. Universal Technical Institute had a return on equity of 13.02% and a net margin of 4.91%. On average, equities analysts anticipate that Universal Technical Institute Inc will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UTI has been the topic of several research analyst reports. Northland Securities set a $41.00 price objective on Universal Technical Institute in a research note on Thursday, May 7th. Weiss Ratings raised shares of Universal Technical Institute from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Truist Financial boosted their price objective on shares of Universal Technical Institute from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Rosenblatt Securities increased their price objective on shares of Universal Technical Institute from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Barrington Research raised their target price on shares of Universal Technical Institute from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.80.

Insider Buying and Selling

In other news, insider Kevin Prehn sold 4,545 shares of Universal Technical Institute stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $40.00, for a total transaction of $181,800.00. Following the sale, the insider owned 27,025 shares in the company, valued at $1,081,000. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jerome Alan Grant sold 94,500 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $41.40, for a total transaction of $3,912,300.00. Following the transaction, the chief executive officer directly owned 335,715 shares in the company, valued at approximately $13,898,601. The trade was a 21.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,117,545 shares of company stock valued at $128,998,420 over the last three months. Company insiders own 9.80% of the company’s stock.

Universal Technical Institute Company Profile

Universal Technical Institute, Inc (NYSE: UTI) is a leading provider of post-secondary education for students pursuing careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, as well as in welding and CNC machining. The company designs and delivers hands-on training through a blend of classroom instruction and experiential lab work, preparing graduates for entry-level positions in the transportation, manufacturing and energy sectors. UTI’s curriculum emphasizes industry-recognized credentials and proprietary coursework developed in collaboration with original equipment manufacturers (OEMs) to ensure alignment with evolving employer needs.

Through a network of campus locations across the United States and select centers in Canada, Universal Technical Institute offers diploma and certificate programs ranging from 36 to 74 weeks in length.