Los Angeles Capital Management LLC Makes New Investment in UWM Holdings Co. (NYSE:UWMC)

Los Angeles Capital Management LLC purchased a new position in UWM Holdings Co. (NYSE:UWMC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 98,382 shares of the company's stock, valued at approximately $578,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. HB Wealth Management LLC raised its holdings in UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock valued at $82,000 after acquiring an additional 2,631 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of UWM by 31.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 30,148 shares of the company's stock valued at $177,000 after purchasing an additional 7,164 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of UWM by 7.9% in the third quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company's stock valued at $858,000 after purchasing an additional 7,334 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in UWM by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 574,290 shares of the company's stock worth $4,893,000 after purchasing an additional 7,846 shares during the period. Finally, Inspire Investing LLC boosted its stake in UWM by 5.3% during the fourth quarter. Inspire Investing LLC now owns 188,889 shares of the company's stock worth $1,109,000 after buying an additional 9,591 shares in the last quarter. Institutional investors own 53.59% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on UWMC shares. Wedbush reaffirmed a "neutral" rating and set a $6.50 price objective on shares of UWM in a report on Monday. Keefe, Bruyette & Woods upgraded shares of UWM from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $6.50 to $7.50 in a research note on Monday. The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Finally, Morgan Stanley dropped their target price on UWM from $7.50 to $6.50 and set an "equal weight" rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.25.

UWM Price Performance

NYSE:UWMC traded down $0.04 during mid-day trading on Thursday, reaching $6.41. 1,355,848 shares of the company were exchanged, compared to its average volume of 3,445,549. UWM Holdings Co. has a 12 month low of $5.31 and a 12 month high of $9.74. The company has a fifty day moving average of $6.12 and a 200 day moving average of $6.92. The stock has a market cap of $10.24 billion, a PE ratio of -27.85 and a beta of 1.64. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

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

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.25%. The ex-dividend date is Thursday, March 20th. UWM's dividend payout ratio is 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.