Russell Investments Group Ltd. Sells 49,608 Shares of Universal Electronics Inc. $UEIC

Russell Investments Group Ltd. lowered its holdings in Universal Electronics Inc. (NASDAQ:UEIC) by 38.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,314 shares of the technology company’s stock after selling 49,608 shares during the quarter. Russell Investments Group Ltd. owned 0.61% of Universal Electronics worth $492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Universal Electronics by 28.3% in the fourth quarter. JPMorgan Chase & Co. now owns 22,865 shares of the technology company’s stock valued at $252,000 after acquiring an additional 5,042 shares during the period. Wellington Shields & Co. LLC bought a new stake in Universal Electronics in the first quarter valued at about $45,000. OMERS ADMINISTRATION Corp bought a new stake in Universal Electronics in the fourth quarter valued at about $121,000. Schonfeld Strategic Advisors LLC bought a new stake in Universal Electronics in the fourth quarter valued at about $139,000. Finally, Jane Street Group LLC increased its stake in Universal Electronics by 89.5% in the fourth quarter. Jane Street Group LLC now owns 33,497 shares of the technology company’s stock valued at $368,000 after acquiring an additional 15,819 shares during the period. Institutional investors own 79.35% of the company’s stock.

Insider Activity

In related news, Director Eric Singer bought 4,200 shares of Universal Electronics stock in a transaction dated Tuesday, June 3rd. The shares were bought at an average cost of $6.62 per share, for a total transaction of $27,804.00. Following the completion of the transaction, the director owned 61,297 shares of the company’s stock, valued at approximately $405,786.14. This trade represents a 7.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities cut shares of Universal Electronics from a “buy” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Universal Electronics presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Universal Electronics Trading Down 1.0%

Shares of Universal Electronics stock opened at $4.86 on Monday. Universal Electronics Inc. has a 1-year low of $4.25 and a 1-year high of $12.50. The firm’s 50-day moving average price is $5.99 and its two-hundred day moving average price is $6.35. The stock has a market capitalization of $64.83 million, a price-to-earnings ratio of -3.89 and a beta of 1.62.

Universal Electronics Profile

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.