Teacher Retirement System of Texas Has $106,000 Stake in UWM Holdings Corporation (NYSE:UWMC)

Teacher Retirement System of Texas decreased its position in shares of UWM Holdings Corporation (NYSE:UWMC) by 44.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,377 shares of the company’s stock after selling 15,750 shares during the period. Teacher Retirement System of Texas’ holdings in UWM were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UWMC. GAMMA Investing LLC lifted its stake in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after acquiring an additional 2,958 shares during the period. Sequoia Financial Advisors LLC acquired a new position in UWM during the 1st quarter valued at about $65,000. Townsquare Capital LLC bought a new position in shares of UWM in the 4th quarter valued at about $72,000. Sei Investments Co. acquired a new stake in shares of UWM during the 4th quarter worth approximately $82,000. Finally, Parallel Advisors LLC grew its position in shares of UWM by 60.3% during the 1st quarter. Parallel Advisors LLC now owns 15,175 shares of the company’s stock worth $83,000 after buying an additional 5,709 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $4.22, for a total transaction of $1,688,151.92. Following the transaction, the chief executive officer directly owned 1,499,352 shares in the company, valued at approximately $6,327,265.44. This represents a 21.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 5,600,504 shares of company stock worth $23,306,097 over the last ninety days. 94.11% of the stock is currently owned by insiders.

UWM Price Performance

Shares of NYSE:UWMC opened at $4.41 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87. The stock has a market cap of $7.04 billion, a PE ratio of -33.88 and a beta of 1.68. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $9.74. The stock’s fifty day simple moving average is $4.17 and its two-hundred day simple moving average is $5.11.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). The firm had revenue of $613.37 million during the quarter, compared to the consensus estimate of $558.80 million. UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. As a group, analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.08%. The ex-dividend date of this dividend was Wednesday, June 18th. UWM’s dividend payout ratio is -307.69%.

Analyst Upgrades and Downgrades

Several brokerages have commented on UWMC. Keefe, Bruyette & Woods downgraded shares of UWM from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. The Goldman Sachs Group dropped their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Wednesday, July 2nd. Barclays upgraded shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price for the company in a research note on Tuesday, July 8th. Finally, UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus target price of $6.18.

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.