Oak Thistle LLC Takes $439,000 Position in UWM Holdings Corporation (NYSE:UWMC)

Oak Thistle LLC acquired a new stake in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 80,344 shares of the company's stock, valued at approximately $439,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of UWM by 101.8% during 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 increased its stake in UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after buying an additional 4,693 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of UWM during the 1st quarter valued at about $65,000. Townsquare Capital LLC bought a new position in shares of UWM during the 4th quarter valued at about $72,000. Finally, Grange Capital LLC bought a new position in shares of UWM during the 1st quarter valued at about $71,000. 53.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. 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 dropped their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $6.18.

UWM Stock Down 2.9%

Shares of UWMC stock traded down $0.13 during trading on Friday, hitting $4.26. 5,518,973 shares of the company were exchanged, compared to its average volume of 6,896,250. 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 firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -32.73 and a beta of 1.68. The business's 50-day simple moving average is $4.20 and its 200 day simple moving average is $5.07. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.74.

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

UWM Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Ishbia Mat sold 400,036 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were 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 of the company's stock, valued at approximately $6,327,265.44. This trade represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,000,540 shares of company stock worth $25,166,265 over the last 90 days. 87.50% of the stock is currently owned by company insiders.

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.