Universal Electronics Inc. (NASDAQ:UEIC) CEO Paul D. Arling Sells 13,185 Shares

Universal Electronics Inc. (NASDAQ:UEIC) CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total transaction of $154,660.05. Following the completion of the transaction, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Universal Electronics Price Performance

Universal Electronics stock opened at $11.50 on Friday. Universal Electronics Inc. has a 1-year low of $7.20 and a 1-year high of $14.20. The business has a fifty day moving average price of $9.87 and a 200-day moving average price of $10.22.

Institutional Investors Weigh In On Universal Electronics

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Universal Electronics by 33.5% in the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after buying an additional 5,512 shares during the last quarter. Jane Street Group LLC purchased a new stake in Universal Electronics in the third quarter valued at $163,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Universal Electronics by 15.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after acquiring an additional 8,706 shares in the last quarter. Empowered Funds LLC grew its stake in Universal Electronics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,144 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after purchasing an additional 2,203 shares during the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on UEIC. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $14.00 in a research report on Monday, November 11th. StockNews.com raised shares of Universal Electronics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, November 8th.

Universal Electronics Company Profile

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.