Universal Electronics CEO Sells $300,160 in Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $37.52, for a total transaction of $300,160.00. Following the sale, the chief executive officer now directly owns 132,199 shares in the company, valued at approximately $4,960,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Universal Electronics (NASDAQ:UEIC) traded up 4.94% on Friday, hitting $38.46. The stock had a trading volume of 200,250 shares. Universal Electronics has a 52-week low of $14.36 and a 52-week high of $38.69. The stock’s 50-day moving average is $33.81 and its 200-day moving average is $28.95. The company has a market cap of $587.7 million and a price-to-earnings ratio of 30.07.
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. On average, analysts predict that Universal Electronics will post $1.75 earnings per share for the current fiscal year.
A number of research firms have recently commented on UEIC. 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 assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price 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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