Easterly Investment Partners LLC Buys Shares of 110,500 UWM Holdings Co. (NYSE:UWMC)

Easterly Investment Partners LLC bought a new position in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 110,500 shares of the company's stock, valued at approximately $649,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of UWM in the 4th quarter worth $77,000. HB Wealth Management LLC raised its holdings in UWM by 23.0% during 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 in the last quarter. Sei Investments Co. acquired a new stake in UWM in the fourth quarter valued at about $82,000. Orion Portfolio Solutions LLC purchased a new stake in UWM in the 3rd quarter valued at approximately $85,000. Finally, Quantinno Capital Management LP acquired a new position in UWM during the 3rd quarter worth approximately $106,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley reduced their price target on UWM from $7.50 to $6.50 and set an "equal weight" rating for the company in a report on Thursday, December 19th. Keefe, Bruyette & Woods upgraded shares of UWM from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $6.50 to $7.50 in a research report on Monday, March 3rd. Finally, Wedbush reiterated a "neutral" rating and issued a $6.50 price target on shares of UWM in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.25.

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UWM Price Performance

Shares of NYSE:UWMC traded down $0.01 during midday trading on Tuesday, hitting $5.46. 1,054,936 shares of the stock were exchanged, compared to its average volume of 3,636,559. The stock has a market cap of $8.72 billion, a P/E ratio of -23.72 and a beta of 1.64. 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 $6.15 and a 200-day moving average price of $6.49. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM (NYSE:UWMC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. On average, research analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend is Thursday, March 20th. UWM's dividend payout ratio (DPR) 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.