Assenagon Asset Management S.A. Decreases Holdings in Universal Electronics Inc. (NASDAQ:UEIC)

Assenagon Asset Management S.A. reduced its stake in Universal Electronics Inc. (NASDAQ:UEIC) by 63.6% in the 4th quarter, Holdings Channel reports. The firm owned 48,753 shares of the technology company’s stock after selling 85,131 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Universal Electronics were worth $536,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in shares of Universal Electronics by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock valued at $1,927,000 after buying an additional 32,911 shares during the period. Sei Investments Co. purchased a new stake in shares of Universal Electronics during the second quarter valued at approximately $212,000. Jane Street Group LLC acquired a new position in shares of Universal Electronics during the third quarter worth $163,000. Dimensional Fund Advisors LP boosted its stake in shares of Universal Electronics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after purchasing an additional 13,495 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Universal Electronics by 15.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after purchasing an additional 8,706 shares in the last quarter. 79.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Universal Electronics

In other news, Director Edward K. Zinser sold 2,500 shares of Universal Electronics stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total transaction of $26,700.00. Following the transaction, the director now directly owns 38,062 shares in the company, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the transaction, the chief executive officer now directly owns 283,615 shares in the company, valued at approximately $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.37% of the stock is owned by company insiders.

Universal Electronics Price Performance

Universal Electronics stock opened at $10.35 on Friday. Universal Electronics Inc. has a 12 month low of $7.53 and a 12 month high of $14.20. The company has a fifty day moving average price of $11.03 and a two-hundred day moving average price of $10.04. The company has a market cap of $134.86 million, a PE ratio of -5.05, a P/E/G ratio of 4.31 and a beta of 1.20.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.16). The company had revenue of $102.07 million during the quarter, compared to the consensus estimate of $102.57 million. Universal Electronics had a negative return on equity of 8.61% and a negative net margin of 6.96%. During the same period last year, the business posted ($1.50) EPS. Equities research analysts anticipate that Universal Electronics Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

UEIC has been the topic of a number of analyst reports. StockNews.com lowered Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, November 8th. Finally, B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $14.00 in a research note on Monday, November 11th.

Universal Electronics Company Profile

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.