Lebenthal Global Advisors LLC Sells 20,525 Shares of UWM Holdings Co. (NYSE:UWMC)

Lebenthal Global Advisors LLC reduced its stake in UWM Holdings Co. (NYSE:UWMC) by 32.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,974 shares of the company’s stock after selling 20,525 shares during the period. Lebenthal Global Advisors LLC’s holdings in UWM were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after buying an additional 199,900 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of UWM by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after buying an additional 37,190 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock worth $2,372,000 after buying an additional 67,383 shares during the last quarter. AQR Capital Management LLC grew its holdings in UWM by 203.7% during the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after purchasing an additional 173,652 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Price Performance

Shares of UWMC opened at $6.29 on Friday. The company has a 50 day moving average price of $8.06 and a 200-day moving average price of $7.68. UWM Holdings Co. has a fifty-two week low of $5.01 and a fifty-two week high of $9.74. The stock has a market capitalization of $601.39 million, a PE ratio of -314.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Equities analysts predict that UWM Holdings Co. will post 0.26 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 6.36%. UWM’s dividend payout ratio (DPR) is presently -2,000.00%.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,449,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 94.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. UBS Group upped their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. The Goldman Sachs Group upped their price target on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, BTIG Research boosted their price objective on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.68.

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.