Concentric Capital Strategies LP grew its holdings in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 507.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,251,999 shares of the company's stock after purchasing an additional 1,881,483 shares during the quarter. Concentric Capital Strategies LP owned about 0.14% of UWM worth $9,864,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in UWMC. Dynamic Technology Lab Private Ltd bought a new position in shares of UWM in the first quarter worth about $92,000. Focus Partners Wealth bought a new stake in shares of UWM during the first quarter valued at approximately $55,000. Cetera Investment Advisers increased its holdings in shares of UWM by 20.5% in the second quarter. Cetera Investment Advisers now owns 112,961 shares of the company's stock valued at $468,000 after purchasing an additional 19,239 shares in the last quarter. Legal & General Group Plc raised its position in UWM by 65.9% in the 2nd quarter. Legal & General Group Plc now owns 180,164 shares of the company's stock worth $746,000 after purchasing an additional 71,555 shares during the last quarter. Finally, Rhumbline Advisers raised its position in UWM by 18.5% in the 2nd quarter. Rhumbline Advisers now owns 115,501 shares of the company's stock worth $478,000 after purchasing an additional 18,034 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $3.57, for a total value of $3,581,898.81. Following the completion of the transaction, the chief executive officer directly owned 2,995,754 shares of the company's stock, valued at approximately $10,694,841.78. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,941,486 shares of company stock worth $84,173,589 in the last 90 days. Insiders own 80.30% of the company's stock.
UWM Stock Performance
Shares of NYSE:UWMC opened at $2.28 on Thursday. The firm's 50 day simple moving average is $3.21 and its 200 day simple moving average is $4.19. UWM Holdings Corporation has a fifty-two week low of $2.25 and a fifty-two week high of $7.14. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 8.43 and a beta of 1.72. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52.
UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 19.01%. As a group, sell-side analysts forecast that UWM Holdings Corporation will post 0.38 earnings per share for the current year.
UWM Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 17.6%. The ex-dividend date of this dividend is Thursday, June 18th. UWM's dividend payout ratio (DPR) is presently 148.15%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Jefferies Financial Group set a $4.40 target price on UWM in a research note on Wednesday, February 25th. Compass Point began coverage on shares of UWM in a research report on Tuesday, March 10th. They set a "buy" rating and a $8.50 target price on the stock. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $5.50 price target on shares of UWM in a research note on Thursday, May 7th. Finally, Argus upgraded shares of UWM to a "hold" rating in a report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, UWM has a consensus rating of "Hold" and an average price target of $5.19.
Read Our Latest Stock Analysis on UWMC
About UWM
(
Free Report)
United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.
The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.
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