Mercer Global Advisors Inc. ADV Has $168,000 Stock Position in UWM Holdings Co. (NYSE:UWMC)

Mercer Global Advisors Inc. ADV increased its position in shares of UWM Holdings Co. (NYSE:UWMC) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,757 shares of the company’s stock after acquiring an additional 1,991 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in UWM were worth $168,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UWMC. Renaissance Technologies LLC raised its holdings in UWM by 13.2% during 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 period. Quest Partners LLC acquired a new stake in UWM in the 2nd quarter valued at $626,000. Rhumbline Advisers lifted its position in UWM by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after buying an additional 3,426 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of UWM during the 2nd quarter worth about $52,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of UWM by 4.3% in the 2nd 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. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wedbush boosted their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group boosted their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. BTIG Research raised their price objective on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Barclays increased their price target on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.39.

UWM Trading Down 2.2 %

UWMC opened at $8.33 on Wednesday. UWM Holdings Co. has a 52 week low of $4.49 and a 52 week high of $9.74. The business has a 50 day moving average of $8.77 and a 200-day moving average of $7.63. The stock has a market cap of $796.16 million, a PE ratio of 277.67 and a beta of 1.63. 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 (NYSE:UWMC) last issued its 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 for the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts predict that UWM Holdings Co. will post 0.27 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.80%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction 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 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 filing with the SEC, which can be accessed through the SEC website. 94.11% of the stock is currently owned by corporate insiders.

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.