Alliancebernstein L.P. Raises Stake in UWM Holdings Co. (NYSE:UWMC)

Alliancebernstein L.P. increased its position in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 469.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,598 shares of the company's stock after purchasing an additional 184,299 shares during the period. Alliancebernstein L.P.'s holdings in UWM were worth $1,313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 3,212,081 shares during the last quarter. Geode Capital Management LLC grew its stake in UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock worth $13,183,000 after buying an additional 41,206 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in UWM during the fourth quarter worth approximately $121,000. Tidal Investments LLC purchased a new stake in UWM in the third quarter valued at approximately $3,833,000. Finally, Sanctuary Advisors LLC purchased a new stake in UWM in the 4th quarter valued at $77,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on UWMC. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Wedbush restated a "neutral" rating and set a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $6.50 to $7.50 in a research note on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, UWM has a consensus rating of "Hold" and a consensus target price of $7.21.

UWM Price Performance

UWM stock traded down $0.11 during midday trading on Monday, reaching $4.42. The company's stock had a trading volume of 3,169,713 shares, compared to its average volume of 2,885,186. The stock's 50 day simple moving average is $5.68 and its 200 day simple moving average is $6.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $7.06 billion, a PE ratio of -19.22 and a beta of 1.64. UWM Holdings Co. has a fifty-two week low of $4.15 and a fifty-two week high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last issued 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, equities research analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.05%. The ex-dividend date of this dividend was Thursday, March 20th. UWM's dividend payout ratio (DPR) is presently 500.00%.

UWM 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.