Rhumbline Advisers Grows Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Rhumbline Advisers grew its stake in UWM Holdings Co. (NYSE:UWMC) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,964 shares of the company’s stock after purchasing an additional 3,426 shares during the period. Rhumbline Advisers owned approximately 0.10% of UWM worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. ORG Partners LLC acquired a new stake in UWM during the first quarter worth about $29,000. Atlas Capital Advisors LLC increased its holdings in shares of UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after buying an additional 3,309 shares during the last quarter. CWM LLC raised its position in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after buying an additional 3,177 shares during the period. International Assets Investment Management LLC acquired a new position in UWM in the second quarter valued at approximately $52,000. Finally, SageView Advisory Group LLC purchased a new position in UWM in the first quarter worth approximately $55,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

UWM Price Performance

UWM stock opened at $8.63 on Wednesday. The company has a market capitalization of $824.84 million, a P/E ratio of 287.67 and a beta of 1.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. UWM Holdings Co. has a fifty-two week low of $4.49 and a fifty-two week high of $9.74. The stock has a 50-day simple moving average of $8.72 and a 200-day simple moving average of $7.56.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the previous year, the business earned $0.11 EPS. Equities research analysts expect that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Thursday, September 19th. UWM’s dividend payout ratio is presently 1,333.33%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,449,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 94.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on UWMC shares. Keefe, Bruyette & Woods upped their price objective on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Barclays upped their price target on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group lifted their price objective on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. BTIG Research increased their target price on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Wedbush lifted their target price on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.39.

UWM 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.