The Mason Street Advisors LLC Acquires New Stake in Universal Electronics Inc. (UEIC)

The Mason Street Advisors LLC Acquires New Stake in Universal Electronics Inc. (UEIC)

Mason Street Advisors LLC purchased a new stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,821 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Universal Electronics by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,469 shares of the company’s stock valued at $106,000 after buying an additional 640 shares in the last quarter. PineBridge Investments L.P. raised its stake in Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the company’s stock valued at $132,000 after buying an additional 59 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Universal Electronics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,033 shares of the company’s stock valued at $147,000 after buying an additional 248 shares in the last quarter. Smith Asset Management Group LP raised its stake in Universal Electronics by 70.7% in the second quarter. Smith Asset Management Group LP now owns 2,173 shares of the company’s stock valued at $157,000 after buying an additional 900 shares in the last quarter. Finally, Origin Asset Management LLP acquired a new stake in Universal Electronics during the second quarter valued at approximately $222,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

Universal Electronics Inc. (NASDAQ:UEIC) opened at 70.73 on Thursday. The stock has a market cap of $1.02 billion, a P/E ratio of 42.05 and a beta of 1.75. The company’s 50 day moving average is $74.52 and its 200 day moving average is $70.34. Universal Electronics Inc. has a 52 week low of $44.13 and a 52 week high of $80.42.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The company earned $172.20 million during the quarter, compared to analysts’ expectations of $170.02 million. Universal Electronics had a net margin of 3.87% and a return on equity of 16.53%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. Equities analysts predict that Universal Electronics Inc. will post $3.27 earnings per share for the current year.

Several research firms have recently commented on UEIC. Zacks Investment Research upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. B. Riley reiterated a “neutral” rating and issued a $73.50 price target on shares of Universal Electronics in a research report on Friday, August 5th. Sidoti began coverage on shares of Universal Electronics in a research report on Friday, July 22nd. They issued a “buy” rating on the stock. Lake Street Capital began coverage on shares of Universal Electronics in a research report on Thursday, August 18th. They issued a “buy” rating and a $87.00 price target on the stock. Finally, Dougherty & Co upped their price objective on shares of Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.92.

In other news, CFO Bryan M. Hackworth sold 23,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $78.42, for a total value of $1,803,660.00. Following the completion of the sale, the chief financial officer now owns 41,314 shares of the company’s stock, valued at approximately $3,239,843.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Louis Sylvester Hughes sold 398 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $76.07, for a total value of $30,275.86. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.

About Universal Electronics

Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.

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