Nishkama Capital LLC Purchases New Stake in UWM Holdings Corporation $UWMC

Key Points

• Nishkama Capital LLC has acquired a new stake of 374,053 shares in UWM Holdings Corporation, valued at approximately $2,042,000.
• UWM's stock was upgraded to a "hold" rating by Wall Street Zen, with an average price target of $5.54, amidst varying opinions from several research firms.
• The company recently announced a quarterly dividend of $0.10 per share, representing an annualized yield of 6.9%; however, its payout ratio stands at -800.00%.

Nishkama Capital LLC acquired 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 filing with the Securities & Exchange Commission. The firm acquired 374,053 shares of the company's stock, valued at approximately $2,042,000.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after purchasing an additional 2,958 shares during the period. Signaturefd LLC raised its stake in shares of UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after purchasing an additional 4,693 shares in the last quarter. Independent Advisor Alliance acquired a new stake in UWM in the 1st quarter valued at about $58,000. SYM FINANCIAL Corp acquired a new stake in UWM in the 1st quarter valued at about $64,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of UWM in the first quarter worth about $65,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on UWMC. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group lowered their target price on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods lowered UWM from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.54.

UWM Trading Up 8.1%

NYSE:UWMC opened at $5.8150 on Monday. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $9.74. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $9.30 billion, a PE ratio of -116.30 and a beta of 1.70. The business's 50-day simple moving average is $4.45 and its 200-day simple moving average is $4.89.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. The business had revenue of $758.70 million for the quarter, compared to analysts' expectations of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. Sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 6.9%. UWM's payout ratio is presently -800.00%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $5.60, for a total value of $2,240,201.60. Following the sale, the chief executive officer owned 3,298,380 shares in the company, valued at approximately $18,470,928. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 10,800,972 shares of company stock valued at $47,652,288. Insiders own 94.11% of the company's stock.

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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