Insider Selling: Universal Electronics Inc. (NASDAQ:UEIC) Director Sells 2,500 Shares of Stock

Universal Electronics Inc. (NASDAQ:UEIC) Director Edward K. Zinser sold 2,500 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the transaction, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $406,502.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Universal Electronics Stock Down 1.4 %

UEIC opened at $10.53 on Thursday. The firm has a market cap of $137.21 million, a PE ratio of -5.14 and a beta of 1.13. The business has a fifty day simple moving average of $8.70 and a 200-day simple moving average of $10.28. Universal Electronics Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $14.20.

Analysts Set New Price Targets

A number of equities analysts have issued reports on UEIC shares. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $14.00 in a research note on Monday. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, November 8th. Finally, StockNews.com raised Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th.

Institutional Investors Weigh In On Universal Electronics

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in shares of Universal Electronics during the 2nd quarter worth $122,000. Sei Investments Co. acquired a new stake in shares of Universal Electronics in the second quarter worth $212,000. Empowered Funds LLC boosted its position in shares of Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after buying an additional 2,800 shares during the period. Victory Capital Management Inc. boosted its position in shares of Universal Electronics by 4.3% in the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Universal Electronics by 15.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after buying an additional 8,706 shares during the period. 79.35% of the stock is owned by institutional investors.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.