OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys Shares of 143,000 UWM Holdings Co. (NYSE:UWMC)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in UWM Holdings Co. (NYSE:UWMC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 143,000 shares of the company’s stock, valued at approximately $839,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock worth $69,060,000 after purchasing an additional 3,212,081 shares in the last quarter. First Trust Advisors LP lifted its position in shares of UWM by 886.9% in the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock worth $21,880,000 after buying an additional 3,349,779 shares during the last quarter. Basswood Capital Management L.L.C. bought a new stake in shares of UWM during the 4th quarter worth about $6,602,000. Bank of New York Mellon Corp increased its holdings in shares of UWM by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company’s stock valued at $6,386,000 after acquiring an additional 147,459 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of UWM by 51.0% during the 4th quarter. Bank of Nova Scotia now owns 621,392 shares of the company’s stock valued at $3,648,000 after acquiring an additional 209,903 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group upgraded 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 report on Wednesday, April 16th. Wedbush restated a “neutral” rating and issued a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their target price on shares of UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.86.

UWM Stock Performance

UWMC opened at $4.24 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $5.06 and its two-hundred day moving average price is $5.77. The firm has a market capitalization of $6.78 billion, a P/E ratio of -18.43 and a beta of 1.75. UWM Holdings Co. has a 12-month low of $4.00 and a 12-month high of $9.74.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). The firm had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. On average, equities analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.43%. UWM’s dividend payout ratio is -307.69%.

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.