Envestnet Asset Management Inc. Buys 75,296 Shares of Universal Technical Institute Inc $UTI

Envestnet Asset Management Inc. grew its stake in Universal Technical Institute Inc (NYSE:UTI) by 494.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,528 shares of the company’s stock after purchasing an additional 75,296 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Universal Technical Institute worth $3,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UTI. CWM LLC raised its position in Universal Technical Institute by 105.0% in the 1st quarter. CWM LLC now owns 2,167 shares of the company’s stock valued at $56,000 after buying an additional 1,110 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Universal Technical Institute in the 1st quarter worth $57,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Universal Technical Institute in the first quarter valued at about $61,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Universal Technical Institute during the first quarter valued at about $68,000. Finally, New York State Teachers Retirement System lifted its position in shares of Universal Technical Institute by 17.0% during the second quarter. New York State Teachers Retirement System now owns 4,254 shares of the company’s stock valued at $144,000 after purchasing an additional 618 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research report on Monday, September 29th. Rosenblatt Securities restated a “buy” rating and issued a $36.00 target price on shares of Universal Technical Institute in a research note on Thursday, August 7th. Wall Street Zen downgraded Universal Technical Institute from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Zacks Research lowered Universal Technical Institute from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Universal Technical Institute in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.83.

Universal Technical Institute Price Performance

Universal Technical Institute stock opened at $29.52 on Friday. The business’s 50 day simple moving average is $30.31 and its 200 day simple moving average is $31.01. Universal Technical Institute Inc has a 12 month low of $19.42 and a 12 month high of $36.32. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.27 and a beta of 1.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23.

Universal Technical Institute 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.