Penserra Capital Management LLC Grows Stock Holdings in UWM Holdings Corporation $UWMC

Penserra Capital Management LLC grew its holdings in UWM Holdings Corporation (NYSE:UWMC) by 22.3% during the second quarter, HoldingsChannel.com reports. The fund owned 52,992 shares of the company’s stock after purchasing an additional 9,655 shares during the quarter. Penserra Capital Management LLC’s holdings in UWM were worth $219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after purchasing an additional 2,296,205 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of UWM by 81.5% during the first quarter. Cubist Systematic Strategies LLC now owns 979,578 shares of the company’s stock worth $5,348,000 after purchasing an additional 439,928 shares in the last quarter. Carrera Capital Advisors boosted its position in shares of UWM by 1.0% in the second quarter. Carrera Capital Advisors now owns 486,378 shares of the company’s stock worth $2,062,000 after buying an additional 5,008 shares during the period. Quantbot Technologies LP boosted its position in shares of UWM by 53.4% in the first quarter. Quantbot Technologies LP now owns 404,164 shares of the company’s stock worth $2,207,000 after buying an additional 140,628 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of UWM by 1,773.5% in the first quarter. Victory Capital Management Inc. now owns 380,875 shares of the company’s stock valued at $2,080,000 after buying an additional 360,545 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Morgan Stanley cut shares of UWM from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Barclays boosted their price objective on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.54.

UWM Trading Up 1.0%

NYSE UWMC opened at $5.53 on Thursday. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of -110.50 and a beta of 1.79. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.14. The company’s fifty day moving average price is $5.92 and its two-hundred day moving average price is $4.99.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $151.14 million during the quarter, compared to analyst estimates of $651.51 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. As a group, research analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Thursday, December 18th.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 596,356 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $6.84, for a total value of $4,079,075.04. Following the completion of the sale, the chief executive officer directly owned 6,705,072 shares in the company, valued at approximately $45,862,692.48. The trade was a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 19,709,352 shares of company stock valued at $115,442,149. 87.50% of the stock is currently owned by company insiders.

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.