Delta Global Management LP Purchases 235,290 Shares of UWM Holdings Corporation $UWMC

Delta Global Management LP increased its position in UWM Holdings Corporation (NYSE:UWMC) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,181,999 shares of the company’s stock after acquiring an additional 235,290 shares during the quarter. Delta Global Management LP owned about 0.07% of UWM worth $5,177,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

UWMC has been the topic of several research reports. Compass Point initiated coverage on shares of UWM in a report on Tuesday, March 10th. They set a “buy” rating and a $8.50 price objective on the stock. Stephens initiated coverage on shares of UWM in a report on Friday, April 24th. They set an “equal weight” rating and a $4.00 price objective on the stock. Jefferies Financial Group set a $4.40 price objective on shares of UWM in a report on Wednesday, February 25th. Morgan Stanley set a $5.00 price objective on shares of UWM in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of UWM from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $5.19.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $3.39, for a total value of $3,401,298.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,942,060 shares of company stock valued at $87,905,730 over the last quarter. Insiders own 80.30% of the company’s stock.

UWM Stock Performance

NYSE UWMC opened at $2.36 on Tuesday. The stock has a market cap of $3.77 billion, a P/E ratio of 8.73 and a beta of 1.72. The company’s 50-day simple moving average is $3.26 and its 200 day simple moving average is $4.24. UWM Holdings Corporation has a twelve month low of $2.28 and a twelve month high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 19.01%. As a group, research analysts forecast that UWM Holdings Corporation will post 0.38 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 17.0%. UWM’s payout ratio is presently 148.15%.

About UWM

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.