Mount Lucas Management LP Takes $1.04 Million Position in UWM Holdings Corporation (NYSE:UWMC)

Mount Lucas Management LP bought a new position in UWM Holdings Corporation (NYSE:UWMC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 191,000 shares of the company's stock, valued at approximately $1,043,000.

Several other institutional investors have also recently made changes to their positions in the company. SYM FINANCIAL Corp purchased a new position in shares of UWM in the first quarter worth about $64,000. Oak Thistle LLC purchased a new position in shares of UWM in the first quarter worth about $439,000. Y Intercept Hong Kong Ltd purchased a new position in shares of UWM in the first quarter worth about $262,000. Allianz Asset Management GmbH purchased a new position in shares of UWM in the first quarter worth about $133,000. Finally, Easterly Investment Partners LLC raised its stake in shares of UWM by 50.7% in the first quarter. Easterly Investment Partners LLC now owns 166,510 shares of the company's stock worth $909,000 after purchasing an additional 56,010 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

UWM Trading Down 2.9%

Shares of NYSE:UWMC traded down $0.13 during midday trading on Friday, reaching $4.26. The company's stock had a trading volume of 5,518,973 shares, compared to its average volume of 6,896,250. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -32.73 and a beta of 1.68. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $9.74. The business has a 50 day moving average price of $4.20 and a 200 day moving average price of $5.07.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. The business had revenue of $613.37 million during the quarter, compared to analysts' expectations of $558.80 million. Research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.40%. The ex-dividend date of this dividend was Wednesday, June 18th. UWM's dividend payout ratio is presently -307.69%.

Insider Activity at UWM

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $4.22, for a total transaction of $1,688,151.92. Following the transaction, the chief executive officer owned 1,499,352 shares in the company, valued at $6,327,265.44. The trade was a 21.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,000,540 shares of company stock worth $25,166,265 in the last 90 days. Insiders own 87.50% of the company's stock.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of recent analyst reports. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and cut their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target on the stock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded UWM from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Finally, The Goldman Sachs Group lowered their target price on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research note on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, UWM presently has an average rating of "Hold" and an average price target of $6.18.

UWM Company Profile

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.