North Reef Capital Management LP Purchases New Position in UWM Holdings Corporation $UWMC

North Reef Capital Management LP purchased a new stake in UWM Holdings Corporation (NYSE:UWMC) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 353,429 shares of the company’s stock, valued at approximately $1,279,000.

Several other hedge funds have also recently bought and sold shares of UWMC. Dimensional Fund Advisors LP boosted its holdings in shares of UWM by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock worth $243,000 after acquiring an additional 2,329 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of UWM by 4.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock worth $225,000 after purchasing an additional 2,407 shares during the period. Allworth Financial LP lifted its holdings in UWM by 62.5% during the 4th quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock worth $30,000 after purchasing an additional 2,602 shares during the last quarter. Choreo LLC lifted its holdings in UWM by 16.1% during the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock worth $84,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its stake in UWM by 29.5% in the 4th quarter. Fortem Financial Group LLC now owns 16,685 shares of the company’s stock valued at $73,000 after purchasing an additional 3,800 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley decreased their price objective on UWM from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of UWM in a report on Wednesday, June 24th. Argus raised shares of UWM to a “hold” rating in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $5.50 price target on shares of UWM in a research note on Thursday, May 7th. Finally, Barclays lowered their price target on shares of UWM from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.81.

UWM Trading Up 5.5%

Shares of NYSE:UWMC opened at $1.83 on Friday. The company has a market capitalization of $2.94 billion, a P/E ratio of 6.80 and a beta of 1.76. UWM Holdings Corporation has a 1 year low of $1.72 and a 1 year high of $7.14. 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 business’s 50 day simple moving average is $2.38 and its 200 day simple moving average is $3.62.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $901.43 million for the quarter, compared to analyst estimates of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. On average, research analysts anticipate that UWM Holdings Corporation will post 0.34 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were given a $0.10 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 21.8%. UWM’s dividend payout ratio (DPR) is presently 148.15%.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,003,333 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $3.39, for a total transaction of $3,401,298.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,932,876 shares of company stock valued at $28,471,634 over the last three months. 80.30% of the stock is owned by insiders.

About UWM

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.