Nuveen LLC Takes $1.19 Million Position in UWM Holdings Corporation $UWMC

Key Points

• Nuveen LLC has acquired a new stake in UWM Holdings Corporation, purchasing 218,104 shares valued at approximately $1.19 million during the 1st quarter.
• Recent analyst ratings for UWM have been mixed, with one analyst upgrading it to a "hold" while others have lowered target prices, resulting in a consensus rating of "Hold" at an average target price of $5.54.
• UWM Holdings has announced a quarterly dividend of $0.10 per share, reflecting an annual yield of 7.0%, with significant insider selling reported in recent months.

Nuveen LLC acquired a new position in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 218,104 shares of the company's stock, valued at approximately $1,191,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after purchasing an additional 2,958 shares during the last quarter. Signaturefd LLC grew 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 during the last quarter. SYM FINANCIAL Corp bought a new stake in shares of UWM during the first quarter valued at approximately $64,000. Sequoia Financial Advisors LLC bought a new stake in shares of UWM during the first quarter valued at approximately $65,000. Finally, Grange Capital LLC bought a new stake in shares of UWM during the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

UWM Stock Up 1.5%

Shares of NYSE:UWMC traded up $0.09 during midday trading on Wednesday, reaching $5.67. 4,870,331 shares of the company were exchanged, compared to its average volume of 5,931,483. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $9.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $4.87. The firm has a market cap of $9.06 billion, a PE ratio of -113.30 and a beta of 1.76.

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

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 7.1%. UWM's payout ratio is currently -800.00%.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $5.68, for a total transaction of $2,272,204.48. Following the completion of the sale, the chief executive officer owned 1,298,200 shares of the company's stock, valued at approximately $7,373,776. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 12,001,080 shares of company stock worth $54,528,907. Insiders own 94.11% of the company's stock.

UWM 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.