Ameriprise Financial Inc. lowered its position in Universal Electronics Inc. (NASDAQ:UEIC) by 4.5% during the third quarter, Holdings Channel reports. The firm owned 99,475 shares of the company’s stock after selling 4,700 shares during the period. Ameriprise Financial Inc. owned about 0.69% of Universal Electronics worth $7,407,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in UEIC. Victory Capital Management Inc. raised its stake in shares of Universal Electronics by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,469 shares of the company’s stock worth $106,000 after buying an additional 640 shares during the period. PineBridge Investments L.P. raised its position in Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the company’s stock valued at $132,000 after buying an additional 59 shares during the last quarter. Teacher Retirement System of Texas raised its position in Universal Electronics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,033 shares of the company’s stock valued at $147,000 after buying an additional 248 shares during the last quarter. Smith Asset Management Group LP raised its position in Universal Electronics by 1.8% in the third quarter. Smith Asset Management Group LP now owns 2,213 shares of the company’s stock valued at $165,000 after buying an additional 40 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new position in Universal Electronics during the second quarter valued at $204,000. 91.78% of the stock is currently owned by institutional investors.
Shares of Universal Electronics Inc. (NASDAQ:UEIC) traded down 3.00% on Friday, reaching $59.75. The company’s stock had a trading volume of 152,792 shares. The company’s 50 day moving average is $65.78 and its 200-day moving average is $70.77. The stock has a market cap of $870.68 million, a PE ratio of 33.16 and a beta of 1.80. Universal Electronics Inc. has a 1-year low of $46.68 and a 1-year high of $80.42.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $170.30 million for the quarter, compared to analyst estimates of $173.98 million. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. On average, equities analysts predict that Universal Electronics Inc. will post $2.90 earnings per share for the current fiscal year.
UEIC has been the topic of several recent analyst reports. B. Riley reissued a “buy” rating and set a $73.50 price target on shares of Universal Electronics in a research report on Saturday, November 12th. Zacks Investment Research raised Universal Electronics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.92.
In other news, EVP Paul J. Bennett sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $67.67, for a total value of $676,700.00. Following the transaction, the executive vice president now directly owns 19,583 shares in the company, valued at approximately $1,325,181.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul J. Bennett sold 44,512 shares of the firm’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $65.19, for a total value of $2,901,737.28. Following the completion of the transaction, the executive vice president now owns 46,283 shares in the company, valued at $3,017,188.77. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock worth $3,631,373 over the last 90 days. 5.82% of the stock is owned by corporate insiders.
About Universal Electronics
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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