Prana Capital Management LP Buys 114,106 Shares of UWM Holdings Co. (NYSE:UWMC)

Prana Capital Management LP lifted its position in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 180.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,442 shares of the company's stock after purchasing an additional 114,106 shares during the quarter. Prana Capital Management LP's holdings in UWM were worth $1,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after purchasing an additional 3,212,081 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of UWM by 886.9% during the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after acquiring an additional 3,349,779 shares during the period. Basswood Capital Management L.L.C. acquired a new position in shares of UWM in the fourth quarter valued at $6,602,000. Bank of New York Mellon Corp raised its holdings in UWM by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock valued at $6,386,000 after acquiring an additional 147,459 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in UWM by 51.0% during the 4th quarter. Bank of Nova Scotia now owns 621,392 shares of the company's stock worth $3,648,000 after purchasing an additional 209,903 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Trading Down 0.1%

Shares of NYSE UWMC traded down $0.01 during trading on Tuesday, reaching $4.22. The company had a trading volume of 1,314,332 shares, compared to its average volume of 4,463,333. UWM Holdings Co. has a 12 month low of $4.00 and a 12 month high of $9.74. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market cap of $6.74 billion, a P/E ratio of -18.33 and a beta of 1.75. The company's fifty day moving average price is $4.91 and its 200-day moving average price is $5.70.

UWM (NYSE:UWMC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. As a group, research analysts expect that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date is Wednesday, June 18th. UWM's dividend payout ratio is presently -307.69%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on UWMC. Wedbush reaffirmed a "neutral" rating and set a $6.50 price target on shares of UWM in a report on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price target on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and decreased their price target for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of UWM from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.86.

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.