Freestone Grove Partners LP bought a new position in UWM Holdings Co. (NYSE:UWMC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 67,343 shares of the company's stock, valued at approximately $395,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of UWM by 485.7% during the 3rd quarter. Barclays PLC now owns 26,022 shares of the company's stock worth $221,000 after purchasing an additional 21,579 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of UWM during the 3rd quarter valued at $239,000. Wedmont Private Capital grew its stake in shares of UWM by 103.1% during the 4th quarter. Wedmont Private Capital now owns 40,857 shares of the company's stock worth $223,000 after acquiring an additional 20,744 shares during the period. 180 Wealth Advisors LLC raised its stake in UWM by 34.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 61,784 shares of the company's stock valued at $363,000 after acquiring an additional 15,878 shares during the period. Finally, HB Wealth Management LLC raised its stake in UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock valued at $82,000 after acquiring an additional 2,631 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on UWMC. The Goldman Sachs Group decreased their price target on UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday. Wedbush reaffirmed a "neutral" rating and set a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. UBS Group raised UWM from a "sell" rating to a "neutral" rating and reduced their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their price target on UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $6.86.
Get Our Latest Report on UWMC
UWM Stock Performance
Shares of UWM stock traded up $0.02 on Friday, hitting $4.23. 2,998,087 shares of the company's stock were exchanged, compared to its average volume of 3,022,698. UWM Holdings Co. has a 1 year low of $4.04 and a 1 year high of $9.74. 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 stock has a market capitalization of $6.76 billion, a PE ratio of -18.39 and a beta of 1.75. The company has a 50-day simple moving average of $5.14 and a 200-day simple moving average of $5.81.
UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to the consensus estimate of $558.80 million. As a group, 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. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.46%. The ex-dividend date is Wednesday, June 18th. UWM's dividend payout ratio (DPR) is -307.69%.
UWM Profile
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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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