First Trust Advisors LP Acquires 3,349,779 Shares of UWM Holdings Co. (NYSE:UWMC)

First Trust Advisors LP boosted its holdings in UWM Holdings Co. (NYSE:UWMC - Free Report) by 886.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,727,477 shares of the company's stock after purchasing an additional 3,349,779 shares during the quarter. First Trust Advisors LP owned about 0.23% of UWM worth $21,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in shares of UWM by 485.7% during the third quarter. Barclays PLC now owns 26,022 shares of the company's stock valued at $221,000 after acquiring an additional 21,579 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock valued at $13,183,000 after purchasing an additional 41,206 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of UWM in the third quarter valued at approximately $239,000. Tidal Investments LLC purchased a new stake in UWM in the 3rd quarter worth approximately $3,833,000. Finally, Wedmont Private Capital boosted its stake in UWM by 103.1% during the fourth quarter. Wedmont Private Capital now owns 40,857 shares of the company's stock valued at $223,000 after buying an additional 20,744 shares during the period. 53.59% of the stock is owned by institutional investors.

UWM Trading Up 1.4 %

Shares of NYSE:UWMC traded up $0.07 on Thursday, reaching $4.77. 1,629,703 shares of the company traded hands, compared to its average volume of 2,913,897. The stock has a market capitalization of $7.62 billion, a P/E ratio of -20.67 and a beta of 1.64. The business's 50-day simple moving average is $5.41 and its 200 day simple moving average is $5.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a 52 week low of $4.15 and a 52 week high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The firm had revenue of $560.21 million during the quarter, compared to analysts' expectations of $645.75 million. As a group, equities analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.39%. The ex-dividend date was Thursday, March 20th. UWM's payout ratio is 500.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UWMC. Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and raised their target price for the company from $6.50 to $7.50 in a research note on Monday, March 3rd. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. Finally, Wedbush reissued a "neutral" rating and issued a $6.50 target price on shares of UWM in a research note on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.21.

About UWM

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.