Alliancebernstein L.P. Buys 184,299 Shares of UWM Holdings Co. (NYSE:UWMC)

Alliancebernstein L.P. increased its holdings in UWM Holdings Co. (NYSE:UWMC - Free Report) by 469.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 223,598 shares of the company's stock after purchasing an additional 184,299 shares during the period. Alliancebernstein L.P.'s holdings in UWM were worth $1,313,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock worth $69,060,000 after purchasing an additional 3,212,081 shares in the last quarter. Geode Capital Management LLC grew its holdings in UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock valued at $13,183,000 after buying an additional 41,206 shares during the period. KLP Kapitalforvaltning AS acquired a new position in UWM during the 4th quarter worth approximately $121,000. Tidal Investments LLC acquired a new position in shares of UWM in the 3rd quarter valued at approximately $3,833,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of UWM during the fourth quarter valued at $77,000. Institutional investors own 53.59% of the company's stock.

UWM Trading Up 0.8 %

UWMC traded up $0.04 during trading on Thursday, reaching $4.46. 372,573 shares of the company's stock were exchanged, compared to its average volume of 2,885,236. The firm has a fifty day moving average price of $5.61 and a two-hundred day moving average price of $6.04. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a one year low of $4.15 and a one year high of $9.74. The stock has a market capitalization of $7.12 billion, a PE ratio of -19.37 and a beta of 1.64.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The firm had revenue of $560.21 million for the quarter, compared to analysts' expectations of $645.75 million. As a group, equities research analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.98%. The ex-dividend date was Thursday, March 20th. UWM's payout ratio is currently 500.00%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $6.50 to $7.50 in a research report on Monday, March 3rd. Wedbush reaffirmed a "neutral" rating and issued a $6.50 target price on shares of UWM in a report on Monday, March 3rd. Finally, UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, UWM presently has an average rating of "Hold" and a consensus target price of $7.21.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.