Allianz Asset Management GmbH Invests $133,000 in UWM Holdings Corporation (NYSE:UWMC)

Allianz Asset Management GmbH acquired a new stake in UWM Holdings Corporation (NYSE:UWMC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 24,400 shares of the company’s stock, valued at approximately $133,000.

Several other institutional investors and hedge funds also recently made changes to their positions in UWMC. GAMMA Investing LLC lifted its stake in UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after purchasing an additional 2,958 shares during the last quarter. Sherbrooke Park Advisers LLC increased its holdings in shares of UWM by 17.4% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after buying an additional 2,975 shares during the period. Mariner LLC increased its holdings in shares of UWM by 5.1% in the fourth quarter. Mariner LLC now owns 64,455 shares of the company’s stock worth $378,000 after buying an additional 3,126 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of UWM by 13.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company’s stock valued at $174,000 after acquiring an additional 3,524 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in UWM by 10.9% during the 1st quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company’s stock valued at $241,000 after acquiring an additional 4,336 shares during the period. Institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $4.25, for a total value of $1,700,153.00. Following the completion of the transaction, the chief executive officer directly owned 3,898,812 shares of the company’s stock, valued at $16,569,951. This represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 8,000,720 shares of company stock worth $33,571,021. Insiders own 94.11% of the company’s stock.

UWM Price Performance

UWMC opened at $4.27 on Tuesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $6.83 billion, a PE ratio of -32.85 and a beta of 1.70. The stock’s 50 day moving average price is $4.20 and its 200-day moving average price is $4.99. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.74.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The company 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%. On average, equities research analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.4%. UWM’s payout ratio is presently -307.69%.

Analysts Set New Price Targets

A number of brokerages have commented on UWMC. Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $4.75 to $4.50 in a research note on Wednesday, April 16th. Barclays upgraded shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group cut their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a report on Wednesday, July 2nd. Five research 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 currently has a consensus rating of “Hold” and an average price target of $6.18.

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.