Universal Technical Institute, Inc. (NYSE:UTI) Sees Large Decline in Short Interest

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

Universal Technical Institute Price Performance

Shares of Universal Technical Institute stock traded down $0.57 on Friday, hitting $25.96. 339,653 shares of the company traded hands, compared to its average volume of 528,992. Universal Technical Institute has a 12-month low of $12.14 and a 12-month high of $26.71. The firm’s 50-day simple moving average is $22.22 and its 200 day simple moving average is $18.53. The company has a market cap of $1.40 billion, a P/E ratio of 35.08, a P/E/G ratio of 1.78 and a beta of 1.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.47.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities upped their price target on Universal Technical Institute from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial raised their target price on Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Lake Street Capital increased their price target on shares of Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. B. Riley increased their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Northland Securities upped their price target on shares of Universal Technical Institute from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Universal Technical Institute currently has a consensus rating of “Buy” and an average target price of $26.33.

Insider Activity at Universal Technical Institute

In other news, Director Kenneth R. Trammell sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.92, for a total value of $777,600.00. Following the completion of the transaction, the director now directly owns 128,205 shares of the company’s stock, valued at $3,323,073.60. This represents a 18.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 27.60% of the stock is currently owned by insiders.

Institutional Trading of Universal Technical Institute

A number of hedge funds have recently bought and sold shares of UTI. Principal Financial Group Inc. bought a new position in shares of Universal Technical Institute during the third quarter valued at about $395,000. Lord Abbett & CO. LLC bought a new position in Universal Technical Institute during the 3rd quarter worth approximately $10,217,000. Sanctuary Advisors LLC bought a new stake in Universal Technical Institute in the third quarter valued at approximately $794,000. Geode Capital Management LLC boosted its stake in shares of Universal Technical Institute by 9.8% during the third quarter. Geode Capital Management LLC now owns 952,799 shares of the company’s stock valued at $15,496,000 after purchasing an additional 85,417 shares during the period. Finally, Guardian Wealth Management Inc. grew its holdings in shares of Universal Technical Institute by 5,347.0% in the third quarter. Guardian Wealth Management Inc. now owns 86,553 shares of the company’s stock worth $1,407,000 after purchasing an additional 84,964 shares during the last quarter. Institutional investors own 75.67% of the company’s stock.

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.