Universal Electronics CEO Unloads $41,326 in Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling sold 1,079 shares of the stock on the open market in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $38.30, for a total value of $41,325.70. Following the completion of the transaction, the chief executive officer now directly owns 135,161 shares of the company’s stock, valued at approximately $5,176,666. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Universal Electronics (NASDAQ:UEIC) traded down 3.57% on Thursday, hitting $36.75. The stock had a trading volume of 169,287 shares. Universal Electronics has a 52 week low of $18.09 and a 52 week high of $40.57. The stock’s 50-day moving average is $37. and its 200-day moving average is $33.88. The company has a market cap of $571.5 million and a P/E ratio of 28.59.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, November 7th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.07. The company had revenue of $142.40 million for the quarter, compared to the consensus estimate of $140.29 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Universal Electronics from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $40.60 price target on the stock. Separately, analysts at Piper Jaffray initiated coverage on shares of Universal Electronics in a research note to investors on Monday, December 9th. They set an “overweight” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.15.
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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