Renaissance Technologies LLC Sells 171,700 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Renaissance Technologies LLC cut its holdings in shares of Universal Technical Institute, Inc. (NYSE:UTI – Get Rating) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293,094 shares of the company’s stock after selling 171,700 shares during the quarter. Renaissance Technologies LLC owned approximately 3.83% of Universal Technical Institute worth $7,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in shares of Universal Technical Institute during the 2nd quarter worth approximately $44,000. Lazard Asset Management LLC acquired a new position in shares of Universal Technical Institute during the 1st quarter worth approximately $47,000. Kennedy Capital Management Inc. acquired a new position in shares of Universal Technical Institute during the 2nd quarter worth approximately $72,000. BNP Paribas Arbitrage SA grew its position in shares of Universal Technical Institute by 4,212.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,437 shares of the company’s stock worth $74,000 after purchasing an additional 10,195 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Universal Technical Institute during the 3rd quarter worth approximately $77,000. 76.70% of the stock is owned by institutional investors.

Universal Technical Institute Stock Performance

Shares of UTI stock opened at $7.47 on Thursday. The firm has a market cap of $253.76 million, a price-to-earnings ratio of 49.80, a P/E/G ratio of 2.29 and a beta of 0.89. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.27 and a current ratio of 1.27. Universal Technical Institute, Inc. has a 52 week low of $5.27 and a 52 week high of $11.45. The firm’s 50-day simple moving average is $7.23 and its two-hundred day simple moving average is $6.79.

Universal Technical Institute (NYSE:UTI – Get Rating) last posted its quarterly earnings results on Monday, December 12th. The company reported $0.18 earnings per share (EPS) for the quarter. Universal Technical Institute had a net margin of 3.15% and a return on equity of 18.13%. The company had revenue of $110.64 million for the quarter, compared to analyst estimates of $112.25 million. As a group, equities analysts forecast that Universal Technical Institute, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Coliseum Capital Management, L bought 78,889 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The shares were acquired at an average price of $6.59 per share, with a total value of $519,878.51. Following the acquisition, the director now owns 381,739 shares of the company’s stock, valued at approximately $2,515,660.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 296,531 shares of company stock valued at $1,880,926. Company insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UTI. StockNews.com lowered shares of Universal Technical Institute from a “buy” rating to a “hold” rating in a research report on Wednesday, February 15th. Lake Street Capital lowered their target price on shares of Universal Technical Institute from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, December 13th. TheStreet cut shares of Universal Technical Institute from a “b-” rating to a “c” rating in a report on Wednesday, February 8th. Barrington Research restated an “outperform” rating and issued a $10.00 price target on shares of Universal Technical Institute in a report on Thursday, February 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price objective on shares of Universal Technical Institute in a report on Thursday, February 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Universal Technical Institute currently has a consensus rating of “Moderate Buy” and an average price target of $10.60.

About Universal Technical Institute

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Universal Technical Institute, Inc engages in the provision of transportation and technical training programs. It operates through the Postsecondary Education and Other segments. The Postsecondary Education segment offers technical training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, welders, and CNC machining technicians.