Easterly Investment Partners LLC Makes New Investment in UWM Holdings Co. (NYSE:UWMC)

Easterly Investment Partners LLC bought a new position in shares of UWM Holdings Co. (NYSE:UWMC) during the 4th quarter, HoldingsChannel reports. The fund bought 110,500 shares of the company’s stock, valued at approximately $649,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock worth $69,060,000 after acquiring an additional 3,212,081 shares in the last quarter. LPL Financial LLC boosted its holdings in UWM by 19.7% in the fourth quarter. LPL Financial LLC now owns 255,171 shares of the company’s stock valued at $1,498,000 after acquiring an additional 42,042 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of UWM during the fourth quarter worth $121,000. AXQ Capital LP acquired a new stake in UWM during the 4th quarter worth about $468,000. Finally, Sei Investments Co. bought a new stake in UWM in the fourth quarter worth approximately $82,000. 53.59% of the stock is owned by institutional investors.

UWM Price Performance

Shares of NYSE:UWMC opened at $5.68 on Friday. UWM Holdings Co. has a twelve month low of $5.31 and a twelve month high of $9.74. The company has a 50-day moving average price of $6.17 and a two-hundred day moving average price of $6.57. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $9.07 billion, a PE ratio of -24.67 and a beta of 1.64.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. Equities analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 7.05%. UWM’s dividend payout ratio is presently 500.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UWMC shares. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $6.50 to $7.50 in a report on Monday, March 3rd. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Finally, Morgan Stanley reduced their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.25.

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.