Concentric Capital Strategies LP Buys 1,881,483 Shares of UWM Holdings Corporation $UWMC

Concentric Capital Strategies LP increased its stake in shares of UWM Holdings Corporation (NYSE:UWMC) by 507.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,251,999 shares of the company’s stock after acquiring an additional 1,881,483 shares during the period. Concentric Capital Strategies LP’s holdings in UWM were worth $9,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after purchasing an additional 4,091 shares during the last quarter. Advisory Services Network LLC bought a new position in UWM in the third quarter valued at approximately $38,000. Raymond James Financial Inc. acquired a new position in UWM during the second quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in UWM by 1,410.7% in the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after purchasing an additional 8,027 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of UWM in the first quarter valued at approximately $55,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $3.57, for a total transaction of $3,581,898.81. Following the completion of the sale, the chief executive officer directly owned 2,995,754 shares in the company, valued at $10,694,841.78. This represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 22,941,486 shares of company stock valued at $84,173,589. 80.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays dropped their price target on UWM from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Jefferies Financial Group set a $4.40 price target on UWM in a research note on Wednesday, February 25th. Morgan Stanley set a $5.00 price objective on UWM in a research note on Thursday, May 7th. Finally, Compass Point assumed coverage on UWM in a report on Tuesday, March 10th. They set a “buy” rating and a $8.50 target price on the stock. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.19.

UWM Price Performance

UWMC stock opened at $2.28 on Thursday. UWM Holdings Corporation has a 1 year low of $2.25 and a 1 year high of $7.14. The company has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $4.19. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 8.43 and a beta of 1.72.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. UWM had a return on equity of 19.01% and a net margin of 1.92%.The firm had revenue of $901.43 million for the quarter, compared to analyst estimates of $709.85 million. Research analysts anticipate that UWM Holdings Corporation will post 0.38 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 17.6%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s dividend payout ratio is currently 148.15%.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.