Peregrine Capital Management LLC Decreases Stake in Universal Electronics Inc. (NASDAQ:UEIC)

Peregrine Capital Management LLC lowered its position in shares of Universal Electronics Inc. (NASDAQ:UEIC – Get Rating) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 278,013 shares of the technology company’s stock after selling 3,015 shares during the quarter. Peregrine Capital Management LLC’s holdings in Universal Electronics were worth $5,785,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of UEIC. Tower Research Capital LLC TRC grew its holdings in shares of Universal Electronics by 117.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,408 shares of the technology company’s stock worth $28,000 after purchasing an additional 761 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in Universal Electronics in the 3rd quarter worth approximately $80,000. BNP Paribas Arbitrage SNC boosted its holdings in Universal Electronics by 35.8% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 6,908 shares of the technology company’s stock worth $136,000 after acquiring an additional 1,820 shares during the period. MetLife Investment Management LLC boosted its holdings in Universal Electronics by 59.9% in the 1st quarter. MetLife Investment Management LLC now owns 7,056 shares of the technology company’s stock worth $220,000 after acquiring an additional 2,644 shares during the period. Finally, Petrus Trust Company LTA purchased a new position in Universal Electronics in the 3rd quarter worth approximately $242,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Universal Electronics Trading Down 2.1 %

Universal Electronics stock opened at $9.57 on Friday. The stock has a market cap of $122.30 million, a P/E ratio of 319.11 and a beta of 1.26. The stock has a 50 day moving average of $18.78 and a 200-day moving average of $20.01. Universal Electronics Inc. has a 52 week low of $8.76 and a 52 week high of $34.39.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on Universal Electronics in a report on Thursday. They issued a “hold” rating for the company. Rosenblatt Securities cut Universal Electronics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $20.00 in a report on Friday, February 17th. B. Riley cut Universal Electronics from a “buy” rating to a “neutral” rating and upped their price target for the stock from $22.00 to $29.00 in a report on Friday, February 17th. Finally, Sidoti upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.67.

Insider Activity

In other Universal Electronics news, CFO Bryan M. Hackworth bought 5,000 shares of Universal Electronics stock in a transaction dated Wednesday, March 15th. The stock was bought at an average cost of $9.65 per share, for a total transaction of $48,250.00. Following the purchase, the chief financial officer now owns 61,073 shares in the company, valued at approximately $589,354.45. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 9.07% of the company’s stock.

Universal Electronics Company Profile

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Universal Electronics, Inc engages in the design, development, and trade of control and sensor technology solutions. Its products include one for all retail accessories, tablets and smartphones, and consumer electronics OEM. The firm’s services include design, global manufacturing, and outsourced call center services.