Delta Global Management LP Has $5.18 Million Holdings in UWM Holdings Corporation $UWMC

Delta Global Management LP raised its position in UWM Holdings Corporation (NYSE:UWMC) by 24.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,181,999 shares of the company’s stock after purchasing an additional 235,290 shares during the quarter. Delta Global Management LP’s holdings in UWM were worth $5,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UWMC. Dynamic Technology Lab Private Ltd acquired a new position in UWM in the first quarter valued at about $92,000. Focus Partners Wealth acquired a new position in UWM in the first quarter valued at about $55,000. Cetera Investment Advisers boosted its position in UWM by 20.5% in the second quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock valued at $468,000 after buying an additional 19,239 shares in the last quarter. Legal & General Group Plc boosted its position in UWM by 65.9% in the second quarter. Legal & General Group Plc now owns 180,164 shares of the company’s stock valued at $746,000 after buying an additional 71,555 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of UWM by 18.5% during the second quarter. Rhumbline Advisers now owns 115,501 shares of the company’s stock worth $478,000 after purchasing an additional 18,034 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

UWM Trading Down 1.0%

UWMC opened at $2.36 on Tuesday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 8.73 and a beta of 1.72. The firm has a 50 day simple moving average of $3.26 and a 200 day simple moving average of $4.24. UWM Holdings Corporation has a fifty-two week low of $2.28 and a fifty-two week high of $7.14.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 19.01%. On average, sell-side analysts anticipate that UWM Holdings Corporation will post 0.38 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 17.0%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s payout ratio is 148.15%.

Analyst Upgrades and Downgrades

UWMC has been the topic of a number of research reports. Argus upgraded shares of UWM to a “hold” rating in a research report on Tuesday, March 31st. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Morgan Stanley set a $5.00 target price on shares of UWM in a research report on Thursday, May 7th. Stephens initiated coverage on shares of UWM in a research report on Friday, April 24th. They set an “equal weight” rating and a $4.00 target price on the stock. Finally, Barclays reduced their target price on shares of UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.19.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $3.39, for a total value of $3,401,298.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,942,060 shares of company stock valued at $87,905,730 over the last ninety days. 80.30% of the stock is currently owned by corporate insiders.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.