Kornitzer Capital Management Inc. KS boosted its holdings in shares of Universal Electronics Inc (NASDAQ:UEIC) by 20.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,200 shares of the technology company’s stock after acquiring an additional 4,700 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.20% of Universal Electronics worth $1,070,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in shares of Universal Electronics in the 2nd quarter valued at approximately $109,000. SG Americas Securities LLC bought a new position in shares of Universal Electronics in the 2nd quarter valued at approximately $166,000. KBC Group NV bought a new position in shares of Universal Electronics in the 2nd quarter valued at approximately $205,000. Ingalls & Snyder LLC bought a new position in shares of Universal Electronics in the 3rd quarter valued at approximately $220,000. Finally, Engineers Gate Manager LP bought a new position in shares of Universal Electronics in the 2nd quarter valued at approximately $234,000.
Shares of NASDAQ:UEIC opened at $32.50 on Thursday. Universal Electronics Inc has a 1-year low of $26.97 and a 1-year high of $55.90. The company has a market cap of $476.01 million, a PE ratio of 11.57 and a beta of 1.36. The company has a current ratio of 1.37, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.
A number of research analysts recently weighed in on UEIC shares. Sidoti raised Universal Electronics from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 14th. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Friday, November 9th. Zacks Investment Research downgraded Universal Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, BidaskClub downgraded Universal Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.00.
In related news, insider David Cheung Hyen Chong sold 1,523 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $35.00, for a total value of $53,305.00. Following the sale, the insider now owns 25,836 shares of the company’s stock, valued at approximately $904,260. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard A. Firehammer, Jr. sold 4,032 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $40.07, for a total value of $161,562.24. Following the completion of the sale, the insider now directly owns 4,032 shares in the company, valued at approximately $161,562.24. The disclosure for this sale can be found here. Insiders have sold a total of 9,032 shares of company stock worth $336,562 in the last three months. 5.97% of the stock is owned by insiders.
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Universal Electronics Profile
Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.
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