BNP Paribas Arbitrage SA reduced its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 49.2% during the third quarter, Holdings Channel reports. The firm owned 2,629 shares of the company’s stock after selling 2,549 shares during the period. BNP Paribas Arbitrage SA’s holdings in Universal Electronics were worth $196,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in Universal Electronics by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,469 shares of the company’s stock valued at $106,000 after buying an additional 640 shares during the last quarter. PineBridge Investments L.P. boosted its position in Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the company’s stock valued at $132,000 after buying an additional 59 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Universal Electronics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,033 shares of the company’s stock valued at $147,000 after buying an additional 248 shares during the last quarter. Smith Asset Management Group LP boosted its position in Universal Electronics by 70.7% in the second quarter. Smith Asset Management Group LP now owns 2,173 shares of the company’s stock valued at $157,000 after buying an additional 900 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Universal Electronics by 12.0% in the first quarter. Legal & General Group Plc now owns 2,647 shares of the company’s stock valued at $165,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) opened at 72.72 on Thursday. The stock’s 50 day moving average price is $75.27 and its 200 day moving average price is $70.02. Universal Electronics Inc. has a 52 week low of $44.12 and a 52 week high of $80.42. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 43.23 and a beta of 1.75.
Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. Universal Electronics had a net margin of 3.87% and a return on equity of 16.53%. The firm had revenue of $172.20 million for the quarter, compared to analysts’ expectations of $170.02 million. During the same quarter last year, the company posted $0.67 earnings per share. Universal Electronics’s revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Universal Electronics Inc. will post $3.27 EPS for the current fiscal year.
Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. B. Riley reiterated a “neutral” rating and set a $73.50 target price on shares of Universal Electronics in a research report on Friday, August 5th. Sidoti assumed coverage on Universal Electronics in a research report on Friday, July 22nd. They set a “buy” rating on the stock. Lake Street Capital started coverage on Universal Electronics in a research report on Thursday, August 18th. They set a “buy” rating and a $87.00 target price on the stock. Finally, Dougherty & Co boosted their price target on Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $74.92.
In other Universal Electronics news, insider David Cheung Hyen Chong sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $75.77, for a total value of $265,195.00. Following the transaction, the insider now owns 25,076 shares of the company’s stock, valued at $1,900,008.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul D. Arling sold 3,300 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $77.00, for a total transaction of $254,100.00. Following the completion of the transaction, the chief executive officer now directly owns 170,675 shares in the company, valued at approximately $13,141,975. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by company insiders.
About Universal Electronics
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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