Teacher Retirement System of Texas Invests $98,000 in UWM Holdings Co. (NYSE:UWMC)

Teacher Retirement System of Texas acquired a new position in UWM Holdings Co. (NYSE:UWMC) in the 2nd quarter, Holdings Channel reports. The firm acquired 11,639 shares of the company’s stock, valued at approximately $98,000.

Other institutional investors have also added to or reduced their stakes in the company. Ergoteles LLC acquired a new stake in shares of UWM in the first quarter worth $5,114,000. Rockbridge Investment Management LCC acquired a new stake in shares of UWM in the first quarter worth $79,000. Commonwealth Equity Services LLC acquired a new stake in shares of UWM in the first quarter worth $84,000. Prana Capital Management LP acquired a new stake in shares of UWM in the first quarter worth $4,071,000. Finally, Lebenthal Global Advisors LLC acquired a new stake in shares of UWM in the second quarter worth $407,000. 26.66% of the stock is owned by institutional investors.

NYSE UWMC opened at $6.80 on Tuesday. UWM Holdings Co. has a 12 month low of $6.25 and a 12 month high of $14.38. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average price is $7.44 and its two-hundred day moving average price is $8.03.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Sunday, August 15th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). Analysts predict that UWM Holdings Co. will post 0.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 6th. Stockholders of record on Friday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.88%.

A number of research firms recently weighed in on UWMC. Zacks Investment Research raised shares of UWM from a “sell” rating to a “hold” rating in a report on Thursday, September 9th. Credit Suisse Group lowered shares of UWM from an “outperform” rating to a “neutral” rating and raised their price target for the company from $8.00 to $8.50 in a report on Wednesday, June 2nd. Argus began coverage on shares of UWM in a report on Thursday, May 27th. They set a “buy” rating and a $10.00 price target for the company. Jefferies Financial Group lowered their price target on shares of UWM from $9.50 to $8.00 and set a “hold” rating for the company in a report on Monday, July 12th. Finally, Barclays raised their price target on shares of UWM from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, July 9th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, UWM currently has a consensus rating of “Hold” and an average target price of $9.40.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates mortgage loans through wholesale channel. It originates primarily conforming and government loans. The company was founded in 1986 and is headquartered in Pontiac, Michigan.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for UWM (NYSE:UWMC)

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