Amalgamated Bank Sells 11,440 Shares of UWM Holdings Co. (NYSE:UWMC)

Amalgamated Bank decreased its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 66.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,851 shares of the company’s stock after selling 11,440 shares during the period. Amalgamated Bank’s holdings in UWM were worth $50,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its position in UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after acquiring an additional 3,177 shares during the period. International Assets Investment Management LLC purchased a new position in UWM in the second quarter valued at approximately $52,000. Xponance Inc. bought a new position in UWM during the second quarter valued at $76,000. Intech Investment Management LLC purchased a new stake in UWM in the second quarter worth $85,000. Finally, McAdam LLC raised its stake in shares of UWM by 16.0% in the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after buying an additional 1,758 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of research reports. BTIG Research boosted their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Morgan Stanley initiated coverage on shares of UWM in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price target on the stock. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, UBS Group increased their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus target price of $7.53.

UWM Stock Up 1.5 %

UWMC opened at $5.92 on Tuesday. UWM Holdings Co. has a fifty-two week low of $5.42 and a fifty-two week high of $9.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of -25.72 and a beta of 1.67. The firm’s fifty day moving average is $7.39 and its 200 day moving average is $7.68.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 annualized dividend and a dividend yield of 6.76%. UWM’s dividend payout ratio (DPR) is -173.91%.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. This represents a 87.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 94.11% of the stock is owned by company insiders.

About UWM

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.