Victory Capital Management Inc. Sells 785,016 Shares of UWM Holdings Co. (NYSE:UWMC)

Victory Capital Management Inc. lessened its stake in UWM Holdings Co. (NYSE:UWMC) by 97.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,383 shares of the company’s stock after selling 785,016 shares during the period. Victory Capital Management Inc.’s holdings in UWM were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Azora Capital LP bought a new stake in UWM during the 4th quarter valued at $6,705,000. Bank of New York Mellon Corp raised its holdings in shares of UWM by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock valued at $6,294,000 after acquiring an additional 37,190 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in UWM by 3.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock worth $2,085,000 after acquiring an additional 9,555 shares during the period. SG Americas Securities LLC lifted its stake in UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after acquiring an additional 226,819 shares during the period. Finally, Quantbot Technologies LP grew its holdings in UWM by 134.8% during the 1st quarter. Quantbot Technologies LP now owns 115,250 shares of the company’s stock worth $837,000 after acquiring an additional 66,174 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

UWM Stock Performance

Shares of UWMC opened at $8.63 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The firm has a market cap of $824.84 million, a PE ratio of 287.67 and a beta of 1.63. UWM Holdings Co. has a 12 month low of $4.49 and a 12 month high of $9.74. The stock has a fifty day moving average price of $8.72 and a 200-day moving average price of $7.56.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business 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 EPS. Equities research analysts predict that UWM Holdings Co. will post 0.28 earnings per share for the current fiscal year.

UWM Announces Dividend

The business 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 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, September 19th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

UWM Company 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.