Mount Lucas Management LP Purchases 24,000 Shares of UWM Holdings Corporation $UWMC

Mount Lucas Management LP increased its position in UWM Holdings Corporation (NYSE:UWMC) by 12.6% during the second quarter, Holdings Channel.com reports. The firm owned 215,000 shares of the company’s stock after buying an additional 24,000 shares during the quarter. Mount Lucas Management LP’s holdings in UWM were worth $890,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its holdings in shares of UWM by 23.5% during the second quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company’s stock valued at $99,000 after buying an additional 4,552 shares during the last quarter. Cresset Asset Management LLC boosted its position in UWM by 14.4% in the first quarter. Cresset Asset Management LLC now owns 36,638 shares of the company’s stock worth $204,000 after purchasing an additional 4,625 shares during the last quarter. Signaturefd LLC raised its stake in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after buying an additional 4,693 shares during the period. Carrera Capital Advisors grew its stake in shares of UWM by 1.0% during the 2nd quarter. Carrera Capital Advisors now owns 486,378 shares of the company’s stock worth $2,062,000 after acquiring an additional 5,008 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of UWM by 39.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,060 shares of the company’s stock worth $79,000 after purchasing an additional 5,348 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on UWMC. Wall Street Zen lowered UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. UBS Group increased their target price on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Barclays lifted their price objective on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.54.

UWM Stock Down 0.9%

Shares of UWM stock opened at $5.10 on Monday. The company has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $5.00. The stock has a market capitalization of $8.15 billion, a PE ratio of -101.90 and a beta of 1.79. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $151.14 million for the quarter, compared to analysts’ expectations of $651.51 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Thursday, December 18th.

Insider Activity

In other news, CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction on Monday, September 15th. The shares were sold at an average price of $6.84, for a total transaction of $4,079,075.04. Following the transaction, the chief executive officer owned 6,705,072 shares in the company, valued at $45,862,692.48. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 18,909,280 shares of company stock valued at $111,145,763. Company insiders own 87.50% of the company’s stock.

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.