Connor Clark & Lunn Investment Management Ltd. Acquires 8,706 Shares of Universal Electronics Inc. (NASDAQ:UEIC)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Universal Electronics Inc. (NASDAQ:UEIC) by 15.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 65,979 shares of the technology company’s stock after acquiring an additional 8,706 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Universal Electronics were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Empowered Funds LLC raised its position in Universal Electronics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,144 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after buying an additional 2,203 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Universal Electronics in the second quarter valued at about $212,000. Dimensional Fund Advisors LP raised its position in shares of Universal Electronics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock worth $4,565,000 after acquiring an additional 13,495 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Universal Electronics by 24.8% in the second quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after acquiring an additional 32,911 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.

Insider Buying and Selling

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of Universal Electronics stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the completion of the sale, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $406,502.16. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.37% of the stock is owned by insiders.

Universal Electronics Stock Performance

Universal Electronics stock opened at $11.44 on Friday. The stock has a market capitalization of $149.06 million, a price-to-earnings ratio of -5.58 and a beta of 1.13. Universal Electronics Inc. has a 52-week low of $7.17 and a 52-week high of $14.20. The stock’s 50 day moving average price is $9.22 and its two-hundred day moving average price is $10.23.

Analyst Ratings Changes

UEIC has been the subject of several analyst reports. StockNews.com upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. B. Riley upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $14.00 in a report on Monday, November 11th. Finally, Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, November 8th.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.