Insider Selling: Paul Arling Sells 5,525 Shares of Universal Electronics Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling sold 5,525 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $35.52, for a total value of $196,248.00. Following the sale, the chief executive officer now directly owns 132,199 shares of the company’s stock, valued at approximately $4,695,708. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Universal Electronics (NASDAQ:UEIC) traded down 0.11% during mid-day trading on Tuesday, hitting $35.54. The stock had a trading volume of 85,141 shares. Universal Electronics has a 52-week low of $14.36 and a 52-week high of $36.71. The stock’s 50-day moving average is $33.31 and its 200-day moving average is $28.73. The company has a market cap of $543.1 million and a price-to-earnings ratio of 29.19.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter 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.
UEIC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Universal Electronics from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 9th. They now have a $38.60 price target on the stock. Separately, analysts at Dougherty & Co raised their price target on shares of Universal Electronics from $36.00 to $47.00 in a research note to investors on Thursday, September 26th. They now have a “buy” rating on the stock. Finally, analysts at Pacific Crest downgraded shares of Universal Electronics 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. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.20.
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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