Healthcare of Ontario Pension Plan Trust Fund Buys New Holdings in UWM Holdings Corporation $UWMC

Healthcare of Ontario Pension Plan Trust Fund bought a new position in UWM Holdings Corporation (NYSE:UWMC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 316,981 shares of the company’s stock, valued at approximately $1,147,000.

Other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of UWM in the 1st quarter valued at $92,000. Focus Partners Wealth bought a new position in shares of UWM during the 1st quarter worth about $55,000. Cetera Investment Advisers boosted its position in shares of UWM by 20.5% during the 2nd quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock valued at $468,000 after acquiring an additional 19,239 shares in the last quarter. Legal & General Group Plc boosted its position in shares of UWM by 65.9% during the 2nd quarter. Legal & General Group Plc now owns 180,164 shares of the company’s stock valued at $746,000 after acquiring an additional 71,555 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in UWM by 18.5% in the second quarter. Rhumbline Advisers now owns 115,501 shares of the company’s stock valued at $478,000 after acquiring an additional 18,034 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Price Performance

NYSE:UWMC opened at $1.81 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The firm has a market cap of $2.91 billion, a PE ratio of 6.72 and a beta of 1.76. UWM Holdings Corporation has a 12 month low of $1.72 and a 12 month high of $7.14. The company’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $3.52.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 19.01%. The company had revenue of $901.43 million during the quarter, compared to analyst estimates of $709.85 million. On average, equities analysts anticipate that UWM Holdings Corporation will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and set a $4.00 price objective on shares of UWM in a report on Wednesday, June 24th. Stephens began coverage on UWM in a report on Friday, April 24th. They issued an “equal weight” rating and a $4.00 target price for the company. Weiss Ratings downgraded UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 15th. Barclays decreased their price target on UWM from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Finally, Citizens Jmp upgraded UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price target on the stock in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.65.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,003,333 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $3.39, for a total transaction of $3,401,298.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,009,999 shares of company stock worth $10,655,396. 80.30% of the stock is owned by corporate insiders.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.