Chartwell Investment Partners LLC Has $1.24 Million Holdings in UWM Holdings Co. (NYSE:UWMC)

Chartwell Investment Partners LLC decreased its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 29.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,915 shares of the company’s stock after selling 60,000 shares during the period. Chartwell Investment Partners LLC’s holdings in UWM were worth $1,243,000 at the end of the most recent quarter.

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

UWM Price Performance

NYSE:UWMC opened at $6.03 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $576.06 million, a P/E ratio of -26.39 and a beta of 1.67. UWM Holdings Co. has a 12 month low of $5.35 and a 12 month high of $9.74. The business’s 50-day moving average is $7.70 and its 200 day moving average is $7.70.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.64%. UWM’s payout ratio is currently -173.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on UWMC shares. The Goldman Sachs Group upped their price objective on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley initiated coverage on UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target for the company. Barclays raised 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 research report on Tuesday, October 8th. BTIG Research increased their target price on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, UBS Group upped their price target on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, UWM presently has a consensus rating of “Hold” and an average price target of $7.66.

Insiders Place Their Bets

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

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.