Mount Lucas Management LP Acquires New Position in UWM Holdings Corporation (NYSE:UWMC)

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

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 valued at $69,060,000 after buying an additional 3,212,081 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock worth $2,229,000 after buying an additional 54,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of UWM by 112.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock worth $648,000 after buying an additional 62,862 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of UWM in the fourth quarter worth $121,000. Finally, Wells Fargo & Company MN increased its position in UWM by 9.9% in the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock worth $381,000 after purchasing an additional 5,849 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $4.40, for a total value of $1,760,158.40. Following the completion of the transaction, the chief executive officer owned 3,699,172 shares of the company's stock, valued at $16,276,356.80. The trade was a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 5,600,504 shares of company stock valued at $23,306,097 in the last quarter. 94.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price target on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods cut shares of UWM from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. Finally, UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and cut their price target for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.18.

UWM Price Performance

UWM stock opened at $4.65 on Wednesday. The company's fifty day moving average price is $4.17 and its 200 day moving average price is $5.11. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $7.43 billion, a P/E ratio of -35.73 and a beta of 1.68. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last posted its earnings results 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. As a group, equities research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.40 annualized dividend and a dividend yield of 8.61%. UWM's dividend payout ratio is presently -307.69%.

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.

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