Insider Buying: Universal Electronics Inc. (NASDAQ:UEIC) Director Buys 6,000 Shares of Stock

Universal Electronics Inc. (NASDAQ:UEIC) Director Eric Singer acquired 6,000 shares of the company’s stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $7.08 per share, for a total transaction of $42,480.00. Following the completion of the purchase, the director now directly owns 36,403 shares of the company’s stock, valued at approximately $257,733.24. This represents a 19.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Eric Singer also recently made the following trade(s):

• On Tuesday, May 13th, Eric Singer acquired 24,000 shares of Universal Electronics stock. The stock was acquired at an average cost of $6.73 per share, for a total transaction of $161,520.00.

Universal Electronics Stock Performance

Shares of NASDAQ UEIC traded down $0.02 during mid-day trading on Monday, hitting $7.02. The stock had a trading volume of 56,232 shares, compared to its average volume of 76,196. Universal Electronics Inc. has a 1 year low of $4.32 and a 1 year high of $12.64. The business has a 50 day moving average price of $5.76 and a two-hundred day moving average price of $8.62. The firm has a market cap of $92.45 million, a P/E ratio of -3.79, a price-to-earnings-growth ratio of 3.62 and a beta of 1.44.

Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, February 20th. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $110.45 million during the quarter, compared to analysts’ expectations of $102.47 million. Universal Electronics had a negative return on equity of 3.67% and a negative net margin of 6.09%. Equities research analysts predict that Universal Electronics Inc. will post 0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UEIC. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Universal Electronics in a research report on Friday, February 21st. StockNews.com lowered shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st.

Institutional Trading of Universal Electronics

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in Universal Electronics by 33.5% in the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after purchasing an additional 5,512 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Universal Electronics by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after acquiring an additional 4,591 shares during the period. Empowered Funds LLC lifted its stake in Universal Electronics by 4.7% during the 4th quarter. Empowered Funds LLC now owns 45,014 shares of the technology company’s stock valued at $495,000 after acquiring an additional 2,034 shares during the period. Peapod Lane Capital LLC bought a new position in Universal Electronics during the 4th quarter valued at about $1,215,000. Finally, SBI Securities Co. Ltd. bought a new position in Universal Electronics during the 4th quarter valued at about $33,000. 79.35% of the stock is owned by hedge funds and other institutional investors.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.