Linda J. Srere, a director at Universal Technical Institute Inc . (NYSE:UTI), recently executed a significant sale of company stock. According to a Form 4 filing with the Securities and Exchange Commission, Srere sold 30,000 shares on November 26 at a weighted average price of $25.53, totaling approximately $765,900. The sale comes as UTI shares trade near their 52-week high of $26.43, having delivered impressive returns of over 106% year-to-date. InvestingPro analysis indicates the stock is currently trading in overbought territory.
In a corresponding transaction, Srere exercised options to acquire 30,000 shares at a price of $3.14 per share, amounting to $94,200. Following these transactions, Srere holds 134,686 shares of Universal Technical Institute.
This activity comes as part of Srere's ongoing management of her stock holdings in the company, where she serves as a director.
In other recent news, Universal Technical Institute (UTI) reported noteworthy growth in the fiscal year 2024, with a 21% revenue increase to $733 million and a net income of $42 million. The company also saw a 10% rise in average full-time active students and a significant 60% surge in adjusted EBITDA, reaching $103 million. On the heels of these developments, UTI is entering Phase 2 of its North Star strategy, focusing on campus expansion, the introduction of new programs, and operational optimization.
In addition to these advancements, Rosenblatt Securities has raised its price target for UTI to $30, up from the previous $22, while maintaining a Buy rating on the stock. This decision follows UTI's strong recent performance and is influenced by industry trends, such as the expanding skills gap and the retirement of baby boomers, which have led to increased demand for qualified workers. Rosenblatt's analysis suggests potential for further growth and increased profit margins for UTI.
Looking ahead to fiscal 2025, UTI is forecasting revenue in the range of $800-$815 million and is planning to roll out new programs and campuses. The company intends to launch nine full-length programs and ten short courses across its campuses, with three new campuses set to open in 2026. These recent developments underscore UTI's strategic positioning to capitalize on current labor market dynamics and its commitment to meeting the growing demand for skilled professionals.
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