UWM Holdings Co. (NYSE:UWMC) Stake Decreased by Corton Capital Inc.

Corton Capital Inc. cut its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 50.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,977 shares of the company’s stock after selling 31,148 shares during the period. Corton Capital Inc.’s holdings in UWM were worth $182,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UWMC. Townsquare Capital LLC acquired a new position in UWM during the 4th quarter worth $72,000. Sanctuary Advisors LLC bought a new stake in shares of UWM during the fourth quarter valued at about $77,000. HB Wealth Management LLC lifted its holdings in UWM by 23.0% in the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after purchasing an additional 2,631 shares during the period. Sei Investments Co. bought a new position in UWM in the 4th quarter valued at about $82,000. Finally, Secure Asset Management LLC acquired a new position in UWM during the 4th quarter valued at about $119,000. 53.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price target on UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.86.

UWM Trading Up 3.1 %

UWM stock opened at $4.21 on Friday. UWM Holdings Co. has a 1 year low of $4.04 and a 1 year high of $9.74. The firm’s 50 day moving average price is $5.18 and its two-hundred day moving average price is $5.83. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of -18.28 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. On average, research analysts predict that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.51%. The ex-dividend date is Wednesday, June 18th. UWM’s dividend payout ratio is presently 500.00%.

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.