LJI Wealth Management LLC Acquires Shares of 15,160 UWM Holdings Co. (NYSE:UWMC)

LJI Wealth Management LLC bought a new stake in UWM Holdings Co. (NYSE:UWMC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,160 shares of the company’s stock, valued at approximately $105,000.

A number of other large investors also recently made changes to their positions in UWMC. Renaissance Technologies LLC boosted its stake in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after buying an additional 199,900 shares during the last quarter. Azora Capital LP bought a new position in shares of UWM during the 4th quarter valued at approximately $6,705,000. Bank of New York Mellon Corp increased its stake in shares of UWM by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after purchasing an additional 37,190 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of UWM by 3.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock worth $2,085,000 after purchasing an additional 9,555 shares during the period. Finally, SG Americas Securities LLC grew its holdings in UWM by 1,743.3% during the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares during the period. 53.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UWMC has been the subject of several recent analyst reports. BTIG Research boosted their price objective on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Wedbush boosted their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. UBS Group increased their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their target price on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Barclays raised their price target on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.39.

Insider Buying and Selling at UWM

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the business’s 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 transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,449,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 94.11% of the stock is currently owned by corporate insiders.

UWM Price Performance

Shares of NYSE:UWMC opened at $8.92 on Thursday. The company’s fifty day moving average is $8.67 and its 200 day moving average is $7.51. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. UWM Holdings Co. has a 52 week low of $4.49 and a 52 week high of $9.74. The stock has a market cap of $852.56 million, a PE ratio of 297.33 and a beta of 1.63.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to the consensus estimate of $540.31 million. During the same period in the previous year, the business posted $0.11 earnings per share. Research analysts anticipate that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, September 19th. UWM’s payout ratio is 1,333.33%.

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.