Short Interest in Universal Technical Institute, Inc. (NYSE:UTI) Declines By 19.5%

Universal Technical Institute, Inc. (NYSE:UTI) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 1,030,000 shares, a drop of 19.5% from the November 30th total of 1,280,000 shares. Based on an average daily volume of 430,700 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

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

Universal Technical Institute Price Performance

UTI traded down $0.09 during trading on Monday, reaching $25.87. The company’s stock had a trading volume of 377,875 shares, compared to its average volume of 528,723. Universal Technical Institute has a 1 year low of $12.14 and a 1 year high of $26.71. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.78 and a beta of 1.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $22.22 and a two-hundred day simple moving average of $18.56.

Insider Buying and Selling

In other news, Director Kenneth R. Trammell sold 30,000 shares of the business’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 transaction of $777,600.00. Following the transaction, the director now owns 128,205 shares of the company’s stock, valued at approximately $3,323,073.60. The trade was a 18.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Technical Institute

A number of institutional investors and hedge funds have recently made changes to their positions in UTI. Dimensional Fund Advisors LP lifted its holdings in Universal Technical Institute by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,004,788 shares of the company’s stock worth $31,533,000 after buying an additional 36,135 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Universal Technical Institute by 9.8% during the third quarter. Geode Capital Management LLC now owns 952,799 shares of the company’s stock worth $15,496,000 after buying an additional 85,417 shares during the last quarter. FMR LLC increased its position in Universal Technical Institute by 73,048.1% in the 3rd 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 during the period. State Street Corp increased its position in Universal Technical Institute by 3.6% in the 3rd quarter. State Street Corp now owns 856,091 shares of the company’s stock valued at $13,920,000 after acquiring an additional 29,461 shares during the period. Finally, American Century Companies Inc. raised its stake in Universal Technical Institute by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 765,562 shares of the company’s stock valued at $12,042,000 after acquiring an additional 39,553 shares during the last quarter. 75.67% of the stock is owned by hedge funds and other institutional investors.

About Universal Technical Institute

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.