Russell Investments Group Ltd. Increases Stock Holdings in UWM Holdings Corporation $UWMC

Russell Investments Group Ltd. raised its stake in shares of UWM Holdings Corporation (NYSE:UWMC) by 769.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,413 shares of the company’s stock after purchasing an additional 11,870 shares during the period. Russell Investments Group Ltd.’s holdings in UWM were worth $73,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of UWMC. GAMMA Investing LLC lifted its holdings in UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after purchasing an additional 2,958 shares in the last quarter. Signaturefd LLC raised its position in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after buying an additional 4,693 shares during the last quarter. Independent Advisor Alliance purchased a new position in shares of UWM in the first quarter worth about $58,000. SYM FINANCIAL Corp acquired a new position in UWM during the first quarter worth about $64,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in UWM during the 1st quarter valued at about $65,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on UWMC shares. Barclays raised shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price on the stock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded UWM from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group cut their target price on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, UWM has an average rating of “Hold” and an average price target of $5.54.

UWM Stock Performance

Shares of UWM stock opened at $5.67 on Thursday. The firm has a market cap of $9.06 billion, a PE ratio of -113.30 and a beta of 1.76. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $9.43. The business’s fifty day simple moving average is $4.71 and its 200-day simple moving average is $4.87.

UWM (NYSE:UWMC) last posted its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The firm had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. Equities analysts forecast that UWM Holdings Corporation will post 0.2 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 9th. Investors of record on Thursday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 7.1%. UWM’s dividend payout ratio is presently -800.00%.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $4.22, for a total transaction of $1,688,151.92. Following the sale, the chief executive officer directly owned 1,499,352 shares in the company, valued at $6,327,265.44. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 12,801,152 shares of company stock valued at $59,045,314. Insiders own 94.11% of the company’s stock.

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.