Universal Technical Institute, Inc. (NYSE:UTI) Sees Significant Drop in Short Interest

Universal Technical Institute, Inc. (NYSE:UTI) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,030,000 shares, a drop of 19.5% from the November 30th total of 1,280,000 shares. Based on an average daily volume of 430,700 shares, the short-interest ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UTI shares. Lake Street Capital boosted their target price on Universal Technical Institute from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barrington Research boosted their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. B. Riley upped their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Truist Financial lifted their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Rosenblatt Securities increased their price target on shares of Universal Technical Institute from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Universal Technical Institute currently has a consensus rating of “Buy” and a consensus target price of $26.33.

Universal Technical Institute Stock Down 0.6 %

Shares of NYSE:UTI traded down $0.16 during midday trading on Tuesday, reaching $25.71. The company’s stock had a trading volume of 476,104 shares, compared to its average volume of 528,514. Universal Technical Institute has a 12-month low of $12.14 and a 12-month high of $26.71. The firm has a market capitalization of $1.39 billion, a P/E ratio of 34.74, a PEG ratio of 1.78 and a beta of 1.48. The firm has a 50 day moving average of $22.42 and a 200-day moving average of $18.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.47.

Insider Transactions at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.92, for a total value of $777,600.00. Following the sale, the director now directly owns 128,205 shares of the company’s stock, valued at $3,323,073.60. This trade represents a 18.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Universal Technical Institute

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Universal Technical Institute by 73,048.1% during the third quarter. FMR LLC now owns 879,240 shares of the company’s stock valued at $14,296,000 after acquiring an additional 878,038 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Universal Technical Institute during the 3rd quarter valued at about $10,217,000. Pembroke Management LTD increased its stake in Universal Technical Institute by 646.3% during the 2nd quarter. Pembroke Management LTD now owns 369,308 shares of the company’s stock valued at $5,809,000 after purchasing an additional 319,820 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Universal Technical Institute by 198.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 345,772 shares of the company’s stock worth $5,622,000 after buying an additional 229,738 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC bought a new position in shares of Universal Technical Institute in the second quarter worth approximately $3,534,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Company Profile

Universal Technical Institute, Inc provides transportation, skilled trades, and healthcare education programs in the United States. The company operates in two segments, UTI and Concorde. It offers certificate, diploma, or degree programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.