Pitcairn Co. Sells 6,041 Shares of UWM Holdings Co. (NYSE:UWMC)

Pitcairn Co. cut its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 29.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,777 shares of the company’s stock after selling 6,041 shares during the quarter. Pitcairn Co.’s holdings in UWM were worth $107,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Quent Capital LLC grew its stake in shares of UWM by 59.8% during the fourth quarter. Quent Capital LLC now owns 13,401 shares of the company’s stock worth $96,000 after buying an additional 5,013 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of UWM by 10.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 22,438 shares of the company’s stock worth $160,000 after buying an additional 2,140 shares during the last quarter. Azora Capital LP bought a new stake in shares of UWM during the fourth quarter worth $6,705,000. HB Wealth Management LLC bought a new stake in shares of UWM during the fourth quarter worth $75,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of UWM by 2.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 277,580 shares of the company’s stock worth $1,985,000 after buying an additional 5,478 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of recent research reports. Barclays lifted their price target on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. Wedbush reiterated a “neutral” rating and set a $7.00 price target on shares of UWM in a report on Friday, May 17th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $7.00 price target (up previously from $6.00) on shares of UWM in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.94.

UWM Price Performance

UWMC stock opened at $8.17 on Friday. The firm has a market cap of $780.89 million, a price-to-earnings ratio of 264.00 and a beta of 1.64. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. UWM Holdings Co. has a 12-month low of $4.49 and a 12-month high of $8.34. The company’s fifty day simple moving average is $7.30 and its 200 day simple moving average is $6.90.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Thursday, June 20th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.40 annualized dividend and a yield of 4.90%. UWM’s payout ratio is 1,333.33%.

UWM Company 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.