Insider Selling: Universal Electronics Director Sells 1,000 Shares of Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) Director William C. Mulligan sold 1,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the sale, the director now directly owns 11,566 shares of the company’s stock, valued at approximately $636,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Universal Electronics (NASDAQ:UEIC) traded down 0.99% during mid-day trading on Wednesday, hitting $54.21. 82,925 shares of the company’s stock traded hands. Universal Electronics has a one year low of $30.28 and a one year high of $55.99. The stock’s 50-day moving average is $51.54 and its 200-day moving average is $44.37. The company has a market cap of $851.1 million and a P/E ratio of 32.53.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.47 earnings per share. Universal Electronics’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Universal Electronics will post $2.48 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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. 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Universal Electronics has an average 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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