Wedmont Private Capital Buys 4,147 Shares of UWM Holdings Co. (NYSE:UWMC)

Wedmont Private Capital raised its stake in UWM Holdings Co. (NYSE:UWMC) by 29.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,150 shares of the company’s stock after purchasing an additional 4,147 shares during the quarter. Wedmont Private Capital’s holdings in UWM were worth $139,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new position in shares of UWM during the first quarter worth approximately $29,000. Atlas Capital Advisors LLC boosted its position in shares of UWM by 190.5% in the first quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock valued at $37,000 after acquiring an additional 3,309 shares during the period. CWM LLC grew its stake in shares of UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares in the last quarter. Quadrant Capital Group LLC increased its position in UWM by 63.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock worth $55,000 after acquiring an additional 2,952 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in UWM in the 1st quarter worth about $55,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wedbush lifted their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods upped their target price on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. BTIG Research raised their price target on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays upped their price objective on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Finally, The Goldman Sachs Group raised their target price on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.29.

UWM Trading Up 6.9 %

Shares of UWMC stock opened at $8.82 on Wednesday. UWM Holdings Co. has a twelve month low of $4.49 and a twelve month high of $8.92. The stock’s fifty day simple moving average is $7.60 and its 200 day simple moving average is $7.09. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $843.00 million, a P/E ratio of 294.00 and a beta of 1.63.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, sell-side analysts predict that UWM Holdings Co. will post 0.28 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. 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 4.54%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

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.