Mork Capital Management LLC Acquires New Shares in UWM Holdings Co. (NYSE:UWMC)

Mork Capital Management LLC acquired a new position in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 173,000 shares of the company's stock, valued at approximately $1,016,000.

Other hedge funds have also added to or reduced their stakes in the company. HB Wealth Management LLC raised its stake in shares of 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 purchasing an additional 2,631 shares during the period. Mariner LLC increased its holdings in shares of UWM by 5.1% during the fourth quarter. Mariner LLC now owns 64,455 shares of the company's stock worth $378,000 after buying an additional 3,126 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of UWM by 20.7% during the fourth quarter. Victory Capital Management Inc. now owns 20,330 shares of the company's stock worth $119,000 after buying an additional 3,488 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of UWM by 13.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company's stock worth $174,000 after buying an additional 3,524 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of UWM by 9.9% during the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock worth $381,000 after buying an additional 5,849 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Trading Up 4.2%

Shares of UWM stock traded up $0.18 during trading on Friday, hitting $4.32. The company's stock had a trading volume of 6,195,068 shares, compared to its average volume of 3,121,957. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of -18.76 and a beta of 1.75. The stock has a 50-day moving average price of $4.94 and a two-hundred day moving average price of $5.72. UWM Holdings Co. has a 52 week low of $4.00 and a 52 week high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly 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 business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. Equities research analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.27%. UWM's dividend payout ratio (DPR) is currently -307.69%.

Wall Street Analyst Weigh In

UWMC has been the subject of several research analyst reports. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their price target on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wedbush reiterated a "neutral" rating and set a $6.50 price target on shares of UWM in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reduced their price objective on shares of UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.86.

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.