Hennessy Advisors Inc. Grows Holdings in Universal Technical Institute, Inc. (NYSE:UTI)

Hennessy Advisors Inc. raised its position in Universal Technical Institute, Inc. (NYSE:UTI) by 6.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 690,900 shares of the company’s stock after purchasing an additional 44,100 shares during the period. Hennessy Advisors Inc.’s holdings in Universal Technical Institute were worth $17,763,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Universal Technical Institute by 73,048.1% in the third quarter. FMR LLC now owns 879,240 shares of the company’s stock valued at $14,296,000 after acquiring an additional 878,038 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Universal Technical Institute in the third quarter worth $10,217,000. Harbor Capital Advisors Inc. grew its stake in Universal Technical Institute by 362.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 376,929 shares of the company’s stock valued at $9,691,000 after purchasing an additional 295,408 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Universal Technical Institute by 198.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 345,772 shares of the company’s stock valued at $5,622,000 after purchasing an additional 229,738 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC bought a new stake in shares of Universal Technical Institute during the 2nd quarter worth $3,534,000. Institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Price Performance

NYSE:UTI opened at $26.04 on Friday. Universal Technical Institute, Inc. has a 52-week low of $13.15 and a 52-week high of $26.71. The stock has a fifty day moving average of $24.65 and a 200 day moving average of $19.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 1.71 and a beta of 1.45.

Analysts Set New Price Targets

UTI has been the subject of several research reports. Northland Securities increased their price target on shares of Universal Technical Institute from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. B. Riley increased their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Rosenblatt Securities raised their price target on shares of Universal Technical Institute from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial upped their price objective on Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Lake Street Capital increased their target price on shares of Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $26.33.

Insider Buying and Selling at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total value of $777,600.00. Following the sale, the director now directly owns 128,205 shares of the company’s stock, valued at $3,323,073.60. This trade represents a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 27.60% of the company’s stock.

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.