Victory Capital Management Inc. Raises Stake in UWM Holdings Corporation (NYSE:UWMC)

Key Points

• Victory Capital Management Inc. increased its holdings in UWM Holdings Corporation by 1,773.5% in the first quarter, acquiring an additional 360,545 shares, worth approximately $2.08 million.
• Insiders, including CEO Ishbia Mat, sold 6.8 million shares totaling around $28.55 million over the last 90 days, representing a significant decrease in their ownership.
• The company reported a loss of ($0.23) EPS for the last quarter, missing analyst expectations, while also declaring a quarterly dividend of $0.10 per share, reflecting a 9.37% dividend yield.

Victory Capital Management Inc. lifted its position in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 1,773.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 380,875 shares of the company's stock after buying an additional 360,545 shares during the period. Victory Capital Management Inc.'s holdings in UWM were worth $2,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of UWMC. GAMMA Investing LLC increased its stake in UWM by 101.8% during the 1st 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 in the last quarter. Sherbrooke Park Advisers LLC boosted its holdings in shares of UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company's stock valued at $118,000 after acquiring an additional 2,975 shares during the last quarter. Mariner LLC boosted its holdings in shares of UWM by 5.1% in the 4th quarter. Mariner LLC now owns 64,455 shares of the company's stock valued at $378,000 after acquiring an additional 3,126 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of UWM by 13.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company's stock valued at $174,000 after acquiring an additional 3,524 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of UWM by 10.9% in the 1st quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company's stock valued at $241,000 after acquiring an additional 4,336 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

UWM Stock Performance

NYSE UWMC traded up $0.18 during mid-day trading on Friday, reaching $4.20. 6,140,625 shares of the stock were exchanged, compared to its average volume of 5,288,281. 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 business's 50 day moving average is $4.20 and its 200-day moving average is $5.03. The company has a market capitalization of $6.71 billion, a P/E ratio of -32.35 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 quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.5%. The ex-dividend date was Wednesday, June 18th. UWM's dividend payout ratio (DPR) is presently -307.69%.

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $4.10, for a total transaction of $1,640,147.60. Following the completion of the transaction, the chief executive officer owned 898,920 shares of the company's stock, valued at $3,685,572. This trade represents a 30.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 7,200,648 shares of company stock worth $30,194,717 in the last ninety days. 87.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UWMC shares. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. The Goldman Sachs Group lowered 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. Finally, Barclays raised shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target on the stock in a report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.18.

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.