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

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

Insider Buying and Selling

In related news, Director Kenneth R. Trammell sold 30,000 shares of the company’s stock in a transaction that occurred 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 $3,323,073.60. This represents a 18.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 27.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Covestor Ltd boosted its stake in Universal Technical Institute by 6,256.0% in the 3rd quarter. Covestor Ltd now owns 1,589 shares of the company’s stock worth $26,000 after purchasing an additional 1,564 shares during the period. Pullen Investment Management LLC increased its holdings in shares of 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 during the last quarter. ClariVest Asset Management LLC lifted its position in shares of 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 buying an additional 2,060 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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 buying an additional 2,083 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Universal Technical Institute by 27.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,118 shares of the company’s stock valued at $197,000 after buying an additional 2,596 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Price Performance

Shares of NYSE:UTI opened at $25.77 on Monday. The firm’s 50 day simple moving average is $20.23 and its two-hundred day simple moving average is $17.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.08. The company 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.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UTI. Northland Securities lifted their price target on Universal Technical Institute from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. B. Riley lifted their price target on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barrington Research increased their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Truist Financial lifted their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Rosenblatt Securities increased their price target on Universal Technical Institute from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.