Insider Selling: Paul Arling Sells 1,602 Shares of Universal Electronics Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling sold 1,602 shares of Universal Electronics stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $38.00, for a total value of $60,876.00. Following the completion of the sale, the chief executive officer now directly owns 136,040 shares of the company’s stock, valued at approximately $5,169,520. 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 up 5.59% during mid-day trading on Wednesday, hitting $38.34. The stock had a trading volume of 192,752 shares. Universal Electronics has a one year low of $18.09 and a one year high of $40.57. The stock has a 50-day moving average of $37.38 and a 200-day moving average of $34.2. The company has a market cap of $596.3 million and a price-to-earnings ratio of 27.24.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts expect that Universal Electronics will post $1.83 EPS for the current fiscal year.
UEIC has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Universal Electronics from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 31st. They now have a $40.60 price target on the stock. 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus 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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