Public Employees Retirement System of Ohio Boosts Stake in UWM Holdings Corporation $UWMC

Public Employees Retirement System of Ohio lifted its holdings in UWM Holdings Corporation (NYSE:UWMC) by 67.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,712 shares of the company’s stock after purchasing an additional 19,670 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in UWM were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in 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 last quarter. Signaturefd LLC increased its position in UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after acquiring an additional 4,693 shares during the last quarter. Quarry LP purchased a new stake in UWM during the first quarter valued at $53,000. Focus Partners Wealth purchased a new stake in UWM during the first quarter valued at $55,000. Finally, Independent Advisor Alliance purchased a new stake in UWM during the first quarter valued at $58,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $6.84, for a total transaction of $4,079,075.04. Following the completion of the transaction, the chief executive officer directly owned 6,705,072 shares of the company’s stock, valued at approximately $45,862,692.48. This represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 17,164,588 shares of company stock worth $93,821,665 over the last three months. 94.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BTIG Research reiterated a “buy” rating and set a $10.00 price objective on shares of UWM in a research report on Monday, September 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a research report on Saturday, September 27th. Barclays upped their price target on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group reduced their price target on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.32.

UWM Stock Performance

NYSE:UWMC opened at $5.60 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $7.60. The stock has a 50-day moving average price of $5.68 and a 200 day moving average price of $4.88. The stock has a market capitalization of $8.96 billion, a P/E ratio of -112.00 and a beta of 1.79.

UWM (NYSE:UWMC) last released its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The firm had revenue of $758.70 million during the quarter, compared to analysts’ expectations of $621.60 million. Equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 7.1%. UWM’s dividend payout ratio (DPR) is currently -800.00%.

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.