Insider Selling: Paul Arling Unloads 1,205 Shares of Universal Electronics Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling sold 1,205 shares of the stock on the open market in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $32.50, for a total transaction of $39,162.50. Following the transaction, the chief executive officer now directly owns 131,450 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on UEIC shares. Analysts at Pacific Crest downgraded shares of Universal Electronics (NASDAQ:UEIC) from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, August 9th. They now have a $26.00 price target on the stock. Separately, analysts at Dougherty & Co raised their price target on shares of Universal Electronics (NASDAQ:UEIC) from $27.00 to $36.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Universal Electronics (NASDAQ:UEIC) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, July 5th. They now have a $32.00 price target on the stock.
One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $31.33.
Shares of Universal Electronics (NASDAQ:UEIC) traded down 3.73% during mid-day trading on Monday, hitting $31.22. 56,004 shares of the company’s stock traded hands. Universal Electronics has a 1-year low of $14.36 and a 1-year high of $35.74. The stock’s 50-day moving average is $31.3 and its 200-day moving average is $26.87. The company has a market cap of $477.1 million and a price-to-earnings ratio of 26.60.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 8th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.06. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $127.04 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts expect that Universal Electronics will post $1.75 EPS for the current fiscal year.
Universal Electronics Inc develops and manufactures a line of pre-programmed universal wireless remote control products, audio-video accessories, and software that are marketed for home entertainment systems.
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