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

Prana Capital Management LP purchased a new position in UWM Holdings Co. (NYSE:UWMC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,336 shares of the company’s stock, valued at approximately $540,000. Prana Capital Management LP owned approximately 0.07% of UWM at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of UWMC. CWM LLC increased its position in shares of UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares during the last quarter. International Assets Investment Management LLC bought a new position in UWM during the second quarter valued at approximately $52,000. Xponance Inc. bought a new position in UWM during the second quarter valued at approximately $76,000. Intech Investment Management LLC bought a new position in UWM during the second quarter valued at approximately $85,000. Finally, McAdam LLC grew its position in UWM by 16.0% during the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after acquiring an additional 1,758 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Trading Down 0.2 %

Shares of UWMC stock opened at $6.55 on Wednesday. The stock has a fifty day moving average of $6.90 and a 200 day 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 quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

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 6.11%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s payout ratio is -173.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UWMC. Morgan Stanley began coverage on shares of UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target on the stock. UBS Group increased their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Wedbush increased their price objective on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. BTIG Research increased their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays raised UWM from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.53.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. This trade represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 94.11% of the stock is currently owned by 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.