LJI Wealth Management LLC Acquires Shares of 15,160 UWM Holdings Co. (NYSE:UWMC)

LJI Wealth Management LLC bought a new position in UWM Holdings Co. (NYSE:UWMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 15,160 shares of the company’s stock, valued at approximately $105,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares in the last quarter. Azora Capital LP bought a new position in shares of UWM in the 4th quarter worth about $6,705,000. Bank of New York Mellon Corp lifted its position in UWM by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock valued at $6,294,000 after acquiring an additional 37,190 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in UWM by 3.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock worth $2,085,000 after acquiring an additional 9,555 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.11, for a total value of $45,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at $1,562,547.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 94.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on UWMC. Barclays boosted their price target on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Wedbush lifted their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. BTIG Research upped their price target on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their target price on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.39.

UWM Price Performance

NYSE UWMC opened at $8.92 on Thursday. The stock has a market capitalization of $852.56 million, a price-to-earnings ratio of 297.33 and a beta of 1.63. UWM Holdings Co. has a 1-year low of $4.49 and a 1-year high of $9.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The business’s fifty day moving average price is $8.67 and its 200-day moving average price is $7.51.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same period in the prior year, the company posted $0.11 EPS. On average, equities analysts predict that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.48%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

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.