Prana Capital Management LP Takes $540,000 Position in UWM Holdings Co. (NYSE:UWMC)

by · The Cerbat Gem

Prana Capital Management LP purchased a new stake in shares of UWM Holdings Co. (NYSE:UWMC – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 63,336 shares of the company’s stock, valued at approximately $540,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of UWM by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after acquiring an additional 3,207 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of UWM by 24.5% during the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after acquiring an additional 67,383 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of UWM by 1,743.3% during the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after acquiring an additional 226,819 shares in the last quarter. Renaissance Technologies LLC increased its holdings in 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 in the last quarter. Finally, Inspire Investing LLC increased its holdings in UWM by 366.1% in the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock worth $1,528,000 after buying an additional 140,830 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated 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 directly owns 171,520 shares of the company’s stock, valued at $1,449,344. The trade was a 87.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 94.11% of the company’s stock.

UWM Price Performance

UWM stock opened at $6.55 on Wednesday. The business has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $7.62. UWM Holdings Co. has a 52-week low of $5.59 and a 52-week high of $9.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend yield of 6.11%. UWM’s payout ratio is currently -173.91%.

Wall Street Analysts Forecast Growth

UWMC has been the subject of several research analyst reports. Wedbush lifted their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. BTIG Research lifted 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. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Morgan Stanley initiated coverage on UWM in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.53.

View Our Latest Analysis on UWMC

About UWM

(Free Report)

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.

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