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

Universal Technical Institute, Inc. (NYSE:UTI) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,280,000 shares, a decline of 23.8% from the November 15th total of 1,680,000 shares. Based on an average daily trading volume, of 429,300 shares, the days-to-cover ratio is presently 3.0 days.

Insider Activity at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of the business’s stock in a transaction 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 sale, the director now owns 128,205 shares in the company, valued at approximately $3,323,073.60. The trade was a 18.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 27.60% of the company’s stock.

Institutional Trading of Universal Technical Institute

Several large investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in shares of Universal Technical Institute by 6,256.0% during the 3rd quarter. Covestor Ltd now owns 1,589 shares of the company’s stock valued at $26,000 after acquiring an additional 1,564 shares in the last quarter. Pullen Investment Management LLC boosted its holdings in Universal Technical Institute by 2.9% in the second quarter. Pullen Investment Management LLC now owns 56,420 shares of the company’s stock worth $887,000 after purchasing an additional 1,600 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in Universal Technical Institute by 2.7% in the second quarter. ClariVest Asset Management LLC now owns 77,231 shares of the company’s stock worth $1,215,000 after purchasing an additional 2,060 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Universal Technical Institute by 9.5% in the third quarter. BNP Paribas Financial Markets now owns 23,928 shares of the company’s stock worth $389,000 after purchasing an additional 2,083 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Universal Technical Institute by 27.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,118 shares of the company’s stock worth $197,000 after purchasing an additional 2,596 shares in the last quarter. 75.67% of the stock is owned by institutional investors and hedge funds.

Universal Technical Institute Price Performance

NYSE UTI opened at $25.77 on Monday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 34.82, a P/E/G ratio of 1.78 and a beta of 1.48. Universal Technical Institute has a 1 year low of $10.46 and a 1 year high of $26.65. The business’s fifty day moving average is $20.23 and its two-hundred day moving average is $17.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.08 and a current ratio of 1.08.

Wall Street Analyst Weigh In

UTI has been the subject of a number of research analyst reports. Barrington Research upped their target price on 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 increased their target price on Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Rosenblatt Securities raised their price objective on Universal Technical Institute from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Northland Securities raised their price objective on Universal Technical Institute from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Lake Street Capital increased their target price on Universal Technical Institute from $19.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.33.

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.