Voloridge Investment Management LLC grew its holdings in UWM Holdings Co. (NYSE:UWMC - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 699,778 shares of the company's stock after acquiring an additional 62,978 shares during the period. Voloridge Investment Management LLC's holdings in UWM were worth $4,108,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in UWMC. Vanguard Group Inc. raised its stake in UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after purchasing an additional 3,212,081 shares during the last quarter. First Trust Advisors LP raised its stake in shares of UWM by 886.9% in the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock valued at $21,880,000 after buying an additional 3,349,779 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of UWM in the 4th quarter valued at $6,602,000. Bank of New York Mellon Corp raised its stake in shares of UWM by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock valued at $6,386,000 after buying an additional 147,459 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of UWM by 51.0% in the 4th quarter. Bank of Nova Scotia now owns 621,392 shares of the company's stock valued at $3,648,000 after buying an additional 209,903 shares in the last quarter. 53.59% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on UWMC shares. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Wedbush reaffirmed a "neutral" rating and issued a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their target price on shares of UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, UWM has an average rating of "Hold" and a consensus target price of $6.86.
Read Our Latest Analysis on UWMC
UWM Trading Up 0.7%
Shares of UWMC stock traded up $0.03 during trading hours on Friday, hitting $4.30. 6,927,481 shares of the company were exchanged, compared to its average volume of 3,242,813. UWM Holdings Co. has a fifty-two week low of $3.89 and a fifty-two week high of $9.74. The company has a 50 day simple moving average of $4.59 and a two-hundred day simple moving average of $5.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $6.88 billion, a P/E ratio of -18.70 and a beta of 1.75.
UWM (NYSE:UWMC - Get Free Report) last released 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). The firm had revenue of $613.37 million during the quarter, compared to the consensus estimate of $558.80 million. Equities analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.
UWM Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.30%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's dividend payout ratio is currently -307.69%.
UWM Company Profile
(
Free Report)
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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