Allspring Global Investments Holdings LLC Lowers Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Allspring Global Investments Holdings LLC lowered its stake in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 70.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,633 shares of the company's stock after selling 216,400 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of UWM worth $648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UWMC. Newbridge Financial Services Group Inc. increased its position in UWM by 12,000.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 12,100 shares of the company's stock worth $59,000 after purchasing an additional 12,000 shares during the period. HB Wealth Management LLC bought a new stake in shares of UWM during the fourth quarter worth approximately $75,000. Quent Capital LLC lifted its holdings in UWM by 59.8% in the fourth quarter. Quent Capital LLC now owns 13,401 shares of the company's stock valued at $96,000 after buying an additional 5,013 shares during the period. Wedmont Private Capital bought a new position in UWM in the fourth quarter valued at approximately $104,000. Finally, Global Retirement Partners LLC acquired a new stake in UWM during the 4th quarter worth $107,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on UWM in a research note on Wednesday, January 10th. They issued a "hold" rating and a $6.00 price target on the stock. Keefe, Bruyette & Woods upgraded UWM from an "underperform" rating to a "market perform" rating and set a $6.00 target price on the stock in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.59.

UWM Stock Down 2.5 %

Shares of UWMC stock traded down $0.17 during trading hours on Thursday, hitting $6.40. 2,202,402 shares of the company were exchanged, compared to its average volume of 1,736,224. The company has a market capitalization of $604.39 million, a PE ratio of -33.68 and a beta of 1.60. UWM Holdings Co. has a 52 week low of $4.49 and a 52 week high of $7.75. The business has a 50 day moving average of $6.64 and a two-hundred day moving average of $6.27. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.12.

UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.26). The firm had revenue of ($114.58) million for the quarter, compared to the consensus estimate of $402.14 million. UWM had a return on equity of 2.45% and a net margin of 0.79%. Analysts anticipate that UWM Holdings Co. will post 0.3 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Wednesday, March 20th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Tuesday, March 19th. UWM's payout ratio is -210.53%.

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.