Bleakley Financial Group LLC Increases Stock Position in UWM Holdings Corporation (NYSE:UWMC)

Bleakley Financial Group LLC lifted its holdings in UWM Holdings Corporation (NYSE:UWMC) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,059 shares of the company’s stock after buying an additional 4,336 shares during the period. Bleakley Financial Group LLC’s holdings in UWM were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in UWMC. First Trust Advisors LP lifted its position in UWM by 886.9% during the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock valued at $21,880,000 after acquiring an additional 3,349,779 shares during the last quarter. Vanguard Group Inc. grew its position in UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after buying an additional 3,212,081 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in UWM during the fourth quarter valued at $6,602,000. EMG Holdings L.P. purchased a new position in UWM during the fourth quarter valued at $2,597,000. Finally, Trexquant Investment LP purchased a new position in UWM during the fourth quarter valued at $2,450,000. 53.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of analyst reports. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $4.75 to $4.50 in a research note on Wednesday, April 16th. The Goldman Sachs Group decreased their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Barclays upgraded shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.18.

UWM Trading Down 0.8%

NYSE:UWMC opened at $4.18 on Friday. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $9.74. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $6.68 billion, a PE ratio of -32.12 and a beta of 1.68. The business’s 50-day simple moving average is $4.17 and its 200-day simple moving average is $5.13.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million for the quarter, compared to the consensus estimate of $558.80 million. UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. Sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 9.58%. The ex-dividend date of this dividend was Wednesday, June 18th. UWM’s dividend payout ratio (DPR) is presently -307.69%.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 400,036 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $4.22, for a total value of $1,688,151.92. Following the completion of the sale, the chief executive officer owned 1,499,352 shares of the company’s stock, valued at approximately $6,327,265.44. The trade was a 21.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 4,800,432 shares of company stock worth $19,865,788 in the last three months. 87.50% of the stock is owned by insiders.

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.