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

Chartwell Investment Partners LLC cut its holdings in UWM Holdings Co. (NYSE:UWMC) by 29.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 145,915 shares of the company’s stock after selling 60,000 shares during the quarter. Chartwell Investment Partners LLC owned about 0.15% of UWM worth $1,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UWMC. Susquehanna Fundamental Investments LLC acquired a new position in shares of UWM in the 1st quarter valued at approximately $375,000. Bleakley Financial Group LLC lifted its stake in UWM by 18.0% in the 1st quarter. Bleakley Financial Group LLC now owns 30,215 shares of the company’s stock valued at $219,000 after acquiring an additional 4,612 shares in the last quarter. SageView Advisory Group LLC bought a new stake in UWM in the 1st quarter valued at approximately $55,000. Quadrature Capital Ltd lifted its stake in UWM by 124.3% in the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after acquiring an additional 30,361 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in UWM by 5.9% in the 1st 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. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UWMC has been the topic of several research reports. BTIG Research boosted their target price on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. UBS Group boosted their target price on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods boosted their target price on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Wedbush upped their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.66.

UWM Stock Down 2.7 %

UWMC opened at $6.03 on Wednesday. UWM Holdings Co. has a 1-year low of $5.35 and a 1-year high of $9.74. The stock’s fifty day simple moving average is $7.70 and its 200 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. The stock has a market cap of $576.06 million, a PE ratio of -26.39 and a beta of 1.67.

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Insider Activity at UWM

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the company’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 of the company’s stock, valued at $1,449,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 94.11% of the stock is owned by company insiders.

About UWM

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.