Wellington Management Group LLP Sells 269,034 Shares of Universal Technical Institute Inc $UTI

Wellington Management Group LLP reduced its stake in Universal Technical Institute Inc (NYSE:UTI) by 31.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 582,108 shares of the company’s stock after selling 269,034 shares during the quarter. Wellington Management Group LLP’s holdings in Universal Technical Institute were worth $24,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Universal Technical Institute by 47.6% during the 1st quarter. Royal Bank of Canada now owns 44,564 shares of the company’s stock worth $1,144,000 after purchasing an additional 14,364 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Universal Technical Institute in the first quarter valued at about $1,226,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Universal Technical Institute by 23.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,688 shares of the company’s stock worth $711,000 after buying an additional 5,216 shares during the period. NewEdge Advisors LLC acquired a new stake in Universal Technical Institute in the 1st quarter valued at approximately $57,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Universal Technical Institute by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,223 shares of the company’s stock valued at $2,163,000 after buying an additional 9,951 shares during the last quarter. 75.67% of the stock is owned by institutional investors and hedge funds.

Universal Technical Institute Trading Up 2.7%

Shares of Universal Technical Institute stock opened at $22.19 on Friday. Universal Technical Institute Inc has a 12-month low of $20.33 and a 12-month high of $51.34. The stock has a market cap of $1.22 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.44 and a beta of 1.17. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $34.52 and its 200-day moving average is $36.36.

Universal Technical Institute (NYSE:UTI) last released its earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $218.91 million during the quarter, compared to analysts’ expectations of $220.40 million. Universal Technical Institute had a net margin of 3.88% and a return on equity of 10.18%. Equities research analysts predict that Universal Technical Institute Inc will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at Universal Technical Institute

In other Universal Technical Institute news, Director Coliseum Capital Management, L sold 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $41.40, for a total transaction of $124,200,000.00. Following the transaction, the director owned 971,440 shares of the company’s stock, valued at $40,217,616. The trade was a 75.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Prehn sold 4,545 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $40.00, for a total value of $181,800.00. Following the completion of the sale, the insider owned 27,025 shares in the company, valued at $1,081,000. This represents a 14.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,099,045 shares of company stock worth $128,294,100 in the last ninety days. Insiders own 9.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UTI. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price target on shares of Universal Technical Institute in a research report on Thursday, August 6th. B. Riley Financial decreased their target price on shares of Universal Technical Institute from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Truist Financial lowered their price target on shares of Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Universal Technical Institute from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.83.

About Universal Technical Institute

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.