Short Interest in Universal Electronics Inc (NASDAQ:UEIC) Declines By 15.3%

Universal Electronics Inc (NASDAQ:UEIC) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 212,100 shares, a drop of 15.3% from the August 31st total of 250,500 shares. Approximately 1.6% of the shares of the stock […]

Universal Electronics Inc (NASDAQ:UEIC) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 212,100 shares, a drop of 15.3% from the August 31st total of 250,500 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 59,900 shares, the short-interest ratio is presently 3.5 days.

Several analysts have commented on the stock. BidaskClub raised shares of Universal Electronics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 23rd. Zacks Investment Research downgraded Universal Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, August 13th. Finally, TheStreet downgraded Universal Electronics from a “b-” rating to a “c+” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.00.

Shares of UEIC stock opened at $37.74 on Thursday. The firm has a market capitalization of $525.79 million, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.23 and a beta of 1.04. Universal Electronics has a one year low of $29.50 and a one year high of $60.00. The company has a 50 day moving average price of $40.65 and a 200 day moving average price of $41.88.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.29. The company had revenue of $153.13 million during the quarter, compared to analysts’ expectations of $150.64 million. Universal Electronics had a net margin of 4.40% and a return on equity of 10.97%. Sell-side analysts anticipate that Universal Electronics will post 2.04 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of UEIC. FDx Advisors Inc. purchased a new position in shares of Universal Electronics in the 1st quarter worth about $35,000. C M Bidwell & Associates Ltd. raised its holdings in Universal Electronics by 46.4% in the first quarter. C M Bidwell & Associates Ltd. now owns 2,115 shares of the technology company’s stock valued at $81,000 after buying an additional 670 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Universal Electronics by 47.1% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 4,688 shares of the technology company’s stock valued at $219,000 after buying an additional 1,500 shares in the last quarter. Joel Isaacson & Co. LLC purchased a new stake in Universal Electronics during the second quarter worth approximately $234,000. Finally, BNP Paribas Arbitrage SA grew its stake in Universal Electronics by 39.9% during the first quarter. BNP Paribas Arbitrage SA now owns 6,171 shares of the technology company’s stock worth $237,000 after buying an additional 1,761 shares during the period.

Universal Electronics Company Profile

Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.

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