UWM Holdings Co. (NYSE:UWMC) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital lifted its stake in UWM Holdings Co. (NYSE:UWMC) by 29.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,150 shares of the company’s stock after acquiring an additional 4,147 shares during the period. Wedmont Private Capital’s holdings in UWM were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of UWMC. Victory Capital Management Inc. increased its holdings in shares of UWM by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock valued at $15,202,000 after purchasing an additional 81,799 shares during the period. Azora Capital LP acquired a new position in UWM in the 4th quarter worth approximately $6,705,000. Cambridge Investment Research Advisors Inc. increased its holdings in UWM by 3.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock worth $2,085,000 after buying an additional 9,555 shares during the period. SG Americas Securities LLC raised its position in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after buying an additional 226,819 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of UWM by 134.8% in the 1st quarter. Quantbot Technologies LP now owns 115,250 shares of the company’s stock valued at $837,000 after acquiring an additional 66,174 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on UWMC. The Goldman Sachs Group raised their target price on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. BTIG Research boosted their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods raised their target price on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Barclays boosted their price target on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Finally, Wedbush raised their price objective on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.29.

UWM Stock Up 6.9 %

Shares of UWMC opened at $8.82 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. The firm has a market cap of $843.00 million, a P/E ratio of 294.00 and a beta of 1.63. The stock’s 50 day moving average is $7.60 and its two-hundred day moving average is $7.09. UWM Holdings Co. has a 12 month low of $4.49 and a 12 month high of $8.92.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. Analysts predict that UWM Holdings Co. will post 0.28 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.54%. The ex-dividend date is Thursday, September 19th. 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.