Peapod Lane Capital LLC Takes $1.22 Million Position in Universal Electronics Inc. (NASDAQ:UEIC)

Peapod Lane Capital LLC acquired a new position in Universal Electronics Inc. (NASDAQ:UEIC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,496 shares of the technology company’s stock, valued at approximately $1,215,000. Peapod Lane Capital LLC owned approximately 0.85% of Universal Electronics at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in shares of Universal Electronics in the third quarter worth about $163,000. JPMorgan Chase & Co. lifted its holdings in Universal Electronics by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after purchasing an additional 4,591 shares during the last quarter. Barclays PLC lifted its holdings in Universal Electronics by 33.5% in the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after purchasing an additional 5,512 shares during the last quarter. Empowered Funds LLC boosted its position in Universal Electronics by 5.3% during the third 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 period. Finally, Victory Capital Management Inc. grew its holdings in Universal Electronics by 4.3% during the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after purchasing an additional 2,203 shares during the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Universal Electronics

In related news, CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now directly owns 283,615 shares in the company, valued at $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UEIC. StockNews.com upgraded shares of Universal Electronics from a “buy” rating to a “strong-buy” rating in a research note on Monday. B. Riley upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and upped their price target 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 objective on the stock in a research note on Friday, November 8th.

Universal Electronics Price Performance

UEIC opened at $9.09 on Thursday. The business has a 50 day moving average of $10.60 and a 200-day moving average of $9.86. Universal Electronics Inc. has a 1-year low of $7.53 and a 1-year high of $14.20.

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.