Acadian Asset Management LLC Buys 14,765 Shares of Universal Electronics Inc. $UEIC

Acadian Asset Management LLC raised its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 520,200 shares of the technology company’s stock after purchasing an additional 14,765 shares during the period. Acadian Asset Management LLC owned 3.95% of Universal Electronics worth $3,179,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new stake in Universal Electronics during the 1st quarter worth about $45,000. OMERS ADMINISTRATION Corp acquired a new stake in Universal Electronics during the 4th quarter worth about $121,000. Jump Financial LLC acquired a new stake in Universal Electronics during the 1st quarter worth about $68,000. Hsbc Holdings PLC acquired a new stake in Universal Electronics during the 1st quarter worth about $118,000. Finally, Cubist Systematic Strategies LLC grew its holdings in Universal Electronics by 62.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company’s stock worth $199,000 after acquiring an additional 12,526 shares during the period. 79.35% of the stock is currently owned by institutional investors and hedge funds.

Universal Electronics Price Performance

NASDAQ:UEIC opened at $4.79 on Tuesday. Universal Electronics Inc. has a 1 year low of $4.25 and a 1 year high of $12.50. The company has a market cap of $63.90 million, a P/E ratio of -3.83 and a beta of 1.62. The stock’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $6.04.

Analysts Set New Price Targets

Separately, Rosenblatt Securities downgraded Universal Electronics from a “buy” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

About Universal Electronics

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.