EMG Holdings L.P. Purchases Shares of 442,448 UWM Holdings Co. (NYSE:UWMC)

EMG Holdings L.P. acquired a new position in shares of UWM Holdings Co. (NYSE:UWMC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 442,448 shares of the company’s stock, valued at approximately $2,597,000. UWM accounts for about 1.5% of EMG Holdings L.P.’s portfolio, making the stock its 13th largest holding.

Several other institutional investors have also made changes to their positions in UWMC. Point72 Asset Management L.P. bought a new stake in UWM in the third quarter valued at $1,065,000. Geode Capital Management LLC boosted its stake in shares of UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after purchasing an additional 41,206 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of UWM by 446.3% in the 3rd quarter. Verition Fund Management LLC now owns 159,666 shares of the company’s stock worth $1,360,000 after purchasing an additional 130,439 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of UWM during the 3rd quarter worth about $680,000. Finally, Tidal Investments LLC bought a new position in UWM during the 3rd quarter valued at about $3,833,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on UWMC shares. Morgan Stanley dropped their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Wedbush reaffirmed a “neutral” rating and set a $6.50 price target on shares of UWM in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $6.50 to $7.50 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus price target of $7.25.

UWM Stock Down 2.1 %

NYSE:UWMC opened at $5.35 on Wednesday. The stock’s fifty day moving average price is $6.13 and its two-hundred day moving average price is $6.46. The company has a market cap of $8.54 billion, a price-to-earnings ratio of -23.24 and a beta of 1.64. UWM Holdings Co. has a 52-week low of $5.30 and a 52-week high of $9.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $560.21 million during the quarter, compared to analyst estimates of $645.75 million. On average, analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend is Thursday, March 20th. UWM’s dividend payout ratio (DPR) is 500.00%.

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.