Wellington Shields Lowers stake in Universal Electronics Inc (UEIC)

Universal Electronics Inc (UEIC) : Wellington Shields reduced its stake in Universal Electronics Inc by 0.1% during the most recent quarter end. The investment management company now holds a total of 308,027 shares of Universal Electronics Inc which is valued at $20 Million after selling 311 shares in Universal Electronics Inc , the firm said in a disclosure report filed with the SEC on May 26, 2016.Universal Electronics Inc makes up approximately 13.02% of Wellington Shields’s portfolio.

Other Hedge Funds, Including , Dynamic Technology Lab Private Ltd added UEIC to its portfolio by purchasing 6,231 company shares during the most recent quarter which is valued at $392,241. Universal Electronics Inc makes up approx 0.11% of Dynamic Technology Lab Private Ltd’s portfolio. Cramer Rosenthal Mcglynn added UEIC to its portfolio by purchasing 34,800 company shares during the most recent quarter which is valued at $2.2 Million. Universal Electronics Inc makes up approx 0.03% of Cramer Rosenthal Mcglynn’s portfolio.Credit Suisse Ag boosted its stake in UEIC in the latest quarter, The investment management firm added 11,030 additional shares and now holds a total of 25,829 shares of Universal Electronics Inc which is valued at $1.6 Million.Perritt Capital Management Inc reduced its stake in UEIC by selling 80,000 shares or 88.11% in the most recent quarter. The Hedge Fund company now holds 10,800 shares of UEIC which is valued at $679,860. Universal Electronics Inc makes up approx 0.17% of Perritt Capital Management Inc’s portfolio. Springbok Capital Management sold out all of its stake in UEIC during the most recent quarter. The investment firm sold 1,760 shares of UEIC which is valued $110,792.

Universal Electronics Inc closed down -0.09 points or -0.14% at $64.84 with 75,713 shares getting traded on Wednesday. Post opening the session at $65.02, the shares hit an intraday low of $64.21 and an intraday high of $65.12 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Universal Electronics Inc reported $0.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.54. The company had revenue of $151.50 million for the quarter, compared to analysts expectations of $156.85 million. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Universal Electronics Inc. Universal Electronics Inc was Downgraded by Sidoti to ” Neutral” on Mar 10, 2016.

Universal Electronics Inc. (UEI) develops control technology solutions and manufactures a line of pre-programmed universal remote control products embedded hardware and software and audio-video (AV) accessories for home entertainment systems. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls; audio-video (AV) accessories; integrated circuits on which its software and universal device control database is embedded; software firmware and technology solutions that can enable devices such as TVs set-top boxes stereos smart phones tablets gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services and intellectual property which the Company licenses to OEMs software development companies private label customers and subscription broadcasting providers.

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