Hennessy Advisors Inc. Reduces Stock Holdings in Universal Technical Institute, Inc. (NYSE:UTI)

Hennessy Advisors Inc. reduced its stake in Universal Technical Institute, Inc. (NYSE:UTI) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 620,000 shares of the company’s stock after selling 70,900 shares during the period. Hennessy Advisors Inc.’s holdings in Universal Technical Institute were worth $15,922,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in UTI. USA Financial Formulas purchased a new position in shares of Universal Technical Institute during the first quarter worth approximately $84,000. Wedge Capital Management L L P NC grew its position in shares of Universal Technical Institute by 30.0% during the first quarter. Wedge Capital Management L L P NC now owns 52,664 shares of the company’s stock worth $1,352,000 after acquiring an additional 12,161 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Universal Technical Institute during the first quarter worth approximately $1,148,000. GAMMA Investing LLC grew its position in shares of Universal Technical Institute by 2,671.7% during the first quarter. GAMMA Investing LLC now owns 8,731 shares of the company’s stock worth $224,000 after acquiring an additional 8,416 shares during the last quarter. Finally, Arcadia Wealth Management Inc. purchased a new position in shares of Universal Technical Institute during the fourth quarter worth approximately $713,000. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

Universal Technical Institute Price Performance

Universal Technical Institute stock opened at $33.65 on Friday. Universal Technical Institute, Inc. has a one year low of $13.66 and a one year high of $36.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14. The business has a fifty day moving average of $31.37 and a two-hundred day moving average of $28.23. The company has a market cap of $1.83 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.61.

Universal Technical Institute (NYSE:UTI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. The business had revenue of $207.45 million during the quarter, compared to the consensus estimate of $196.63 million. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. As a group, analysts predict that Universal Technical Institute, Inc. will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UTI shares. B. Riley started coverage on shares of Universal Technical Institute in a research report on Friday, March 28th. They set a “buy” rating and a $31.00 target price on the stock. Truist Financial increased their price target on Universal Technical Institute from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price target on shares of Universal Technical Institute in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $36.00 price target on shares of Universal Technical Institute in a report on Thursday, May 8th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $38.00 price target (up from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Universal Technical Institute currently has an average rating of “Buy” and an average price target of $35.83.

Insider Transactions at Universal Technical Institute

In related news, COO Todd A. Hitchcock sold 27,500 shares of Universal Technical Institute stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $33.36, for a total transaction of $917,400.00. Following the completion of the sale, the chief operating officer now owns 80,521 shares in the company, valued at approximately $2,686,180.56. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George W. Brochick sold 6,000 shares of Universal Technical Institute stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total value of $191,040.00. Following the sale, the director now owns 32,516 shares of the company’s stock, valued at approximately $1,035,309.44. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 120,024 shares of company stock valued at $3,466,170 in the last 90 days. 15.10% of the stock is currently owned by insiders.

About Universal Technical Institute

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.