Insider Selling: Universal Electronics EVP Unloads 2,000 Shares of Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) EVP Mark S. Kopaskie sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. Following the sale, the executive vice president now directly owns 13,075 shares of the company’s stock, valued at approximately $719,125. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Universal Electronics (NASDAQ:UEIC) traded up 0.60% during mid-day trading on Tuesday, hitting $54.90. 111,577 shares of the company’s stock traded hands. Universal Electronics has a 1-year low of $30.01 and a 1-year high of $55.13. The stock has a 50-day moving average of $49.98 and a 200-day moving average of $42.90. The company has a market cap of $861.9 million and a P/E ratio of 32.42.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $146.32 million for the quarter, compared to the consensus estimate of $145.26 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Universal Electronics will post $2.48 EPS for the current fiscal year.
A number of research firms have recently commented on UEIC. Analysts at Dougherty & Co raised their price target on shares of Universal Electronics from $47.00 to $60.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. Separately, analysts at Avondale Partners upgraded shares of Universal Electronics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 15th. Finally, analysts at B. Riley downgraded shares of Universal Electronics from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $45.75 price target on the stock, down previously from $47.00. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Universal Electronics has a consensus rating of “Buy” and a consensus price target of $49.58.
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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