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

Quantinno Capital Management LP acquired a new position in UWM Holdings Co. (NYSE:UWMC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,419 shares of the company’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McAdam LLC grew its stake in shares of UWM by 16.0% in the second 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 period. Wedmont Private Capital raised its stake in UWM by 10.8% during the 3rd quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock valued at $171,000 after buying an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of UWM by 8.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after buying an additional 1,991 shares during the period. CWM LLC boosted its stake 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 buying 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 acquiring an additional 3,426 shares during the period. 53.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

UWM Price Performance

NYSE:UWMC opened at $5.95 on Wednesday. The stock has a market cap of $9.51 billion, a PE ratio of -25.87 and a beta of 1.65. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $6.49 and its two-hundred day simple moving average is $7.55. UWM Holdings Co. has a 52 week low of $5.67 and a 52 week high of $9.74.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date 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 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.