Quantinno Capital Management LP Purchases New Holdings in UWM Holdings Co. (NYSE:UWMC)

Quantinno Capital Management LP acquired a new position in UWM Holdings Co. (NYSE:UWMC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 12,419 shares of the company’s stock, valued at approximately $106,000.

Other large investors have also modified their holdings of the company. McAdam LLC lifted its stake in shares of UWM by 16.0% during the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock worth $88,000 after acquiring an additional 1,758 shares during the last quarter. Wedmont Private Capital increased its stake in UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock worth $171,000 after purchasing an additional 1,963 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in UWM by 8.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock worth $168,000 after purchasing an additional 1,991 shares during the period. CWM LLC lifted its position in shares of UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of UWM by 3.9% in the second quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after purchasing an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

UWMC has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods lowered their price target on UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Morgan Stanley assumed coverage on UWM in a report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective on the stock. The Goldman Sachs Group lowered their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Barclays raised UWM from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.41.

UWM Price Performance

NYSE UWMC opened at $5.95 on Wednesday. The stock’s fifty day moving average price is $6.49 and its 200 day moving average price is $7.55. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $9.51 billion, a price-to-earnings ratio of -25.87 and a beta of 1.65. UWM Holdings Co. has a 1 year low of $5.67 and a 1 year high of $9.74.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.72%. UWM’s dividend payout ratio is presently -173.91%.

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.