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Sherrell Smith, the Executive Vice President and Chief Academic Officer at Universal Technical Institute Inc . (NYSE:UTI), recently sold a significant portion of the company’s stock. According to a recent SEC filing, Smith sold a total of 46,773 shares over two days, with transactions on March 17 and March 18. The sales come as UTI’s stock has shown remarkable strength, with InvestingPro data showing a 90% return over the past year and the stock trading near its 52-week high of $30.56.
The sales were executed under a pre-established Rule 10b5-1 trading plan, which Smith adopted on December 16, 2024. The transactions were carried out at weighted average prices ranging from $26.26 to $27.36 per share. The total value of these sales amounted to approximately $1.25 million. Notably, analysts maintain a bullish outlook on UTI, with price targets ranging from $31 to $36.
After these transactions, Smith retains ownership of 217,358 shares of Universal Technical Institute. The sales were part of a strategic plan and reflect Smith’s ongoing management of his investment in the company. According to InvestingPro’s analysis, UTI currently appears to be trading above its Fair Value, with 8 additional exclusive insights available to subscribers through the platform’s comprehensive Pro Research Report.
In other recent news, Universal Technical Institute has announced several key developments. Bruce Schuman has been appointed as the new Chief Financial Officer, bringing extensive experience from previous roles, notably at Vacasa and Kiavi. This appointment coincides with Universal Technical Institute’s positive financial results for the first quarter of fiscal 2025, which showed improvements in revenue, Adjusted EBITDA, and new student starts. Additionally, Rosenblatt Securities has raised its price target for the company’s shares to $36, maintaining a Buy rating, citing impressive performance and robust corporate partnerships as factors for the revision. The firm highlighted UTI’s effective strategies and high return on investment for students as significant contributors to its success.
Moreover, Universal Technical Institute’s shareholders have re-elected four Class III directors and ratified Deloitte & Touche LLP as the independent auditor. In a strategic move, UTI has expanded its Manufacturer Specific Advanced Training offerings by introducing Tesla (NASDAQ:TSLA)’s START Collision Repair program at its Long Beach campus, slated to begin in Spring 2025. This program is a collaboration between UTI and Tesla, focusing on advanced collision repair techniques and potentially leading to employment opportunities at Tesla. These recent developments underscore Universal Technical Institute’s commitment to growth, innovation, and strategic partnerships.
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