Carrera Capital Advisors Makes New $1.73 Million Investment in UWM Holdings Co. (NYSE:UWMC)

Carrera Capital Advisors acquired a new position in UWM Holdings Co. (NYSE:UWMC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200,369 shares of the company’s stock, valued at approximately $1,727,000. Carrera Capital Advisors owned approximately 0.21% of UWM at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in UWM during the 2nd quarter valued at about $52,000. SageView Advisory Group LLC purchased a new stake in UWM during the 1st quarter valued at about $55,000. Xponance Inc. purchased a new stake in UWM during the 2nd quarter valued at about $76,000. Finally, Intech Investment Management LLC purchased a new stake in UWM during the 2nd quarter valued at about $85,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

UWM Stock Down 1.6 %

UWMC traded down $0.10 during trading on Tuesday, hitting $6.09. 676,918 shares of the company’s stock traded hands, compared to its average volume of 1,931,725. The company’s 50 day simple moving average is $7.70 and its two-hundred day simple moving average is $7.70. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. UWM Holdings Co. has a 12-month low of $5.35 and a 12-month high of $9.74. The stock has a market capitalization of $582.28 million, a price-to-earnings ratio of -26.91 and a beta of 1.67.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.57%. UWM’s dividend payout ratio (DPR) is currently -173.91%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UWMC. BTIG Research increased their price objective on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. UBS Group increased their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Wedbush increased their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods increased their target price on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Finally, Barclays raised UWM from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.66.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 94.11% of the company’s stock.

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.