Brooklands Fund Management Ltd Takes $2.43 Million Position in UWM Holdings Corporation $UWMC

Brooklands Fund Management Ltd acquired a new stake in shares of UWM Holdings Corporation (NYSE:UWMC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 554,900 shares of the company’s stock, valued at approximately $2,430,000. UWM comprises about 0.3% of Brooklands Fund Management Ltd’s holdings, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of UWMC. Brandes Investment Partners LP bought a new position in shares of UWM during the fourth quarter valued at about $45,867,000. Integrated Investment Consultants LLC bought a new position in shares of UWM during the third quarter valued at about $32,630,000. Renaissance Technologies LLC bought a new position in shares of UWM during the fourth quarter valued at about $21,580,000. First Trust Advisors LP bought a new position in shares of UWM during the fourth quarter valued at about $19,303,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after purchasing an additional 3,224,806 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

UWM Stock Performance

UWM stock opened at $2.36 on Tuesday. The stock’s 50 day simple moving average is $3.26 and its two-hundred day simple moving average is $4.24. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 8.73 and a beta of 1.72. 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 data on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. As a group, analysts expect that UWM Holdings Corporation will post 0.38 earnings per share for the current fiscal year.

UWM Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of UWM in a research note on Friday, June 5th. Argus raised UWM to a “hold” rating in a research note on Tuesday, March 31st. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of UWM in a research note on Tuesday, March 10th. Barclays cut their target price on UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Finally, Weiss Ratings raised UWM from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, UWM has an average rating of “Hold” and a consensus price target of $5.79.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction that occurred on Friday, May 8th. The stock was 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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 23,942,060 shares of company stock worth $87,905,730. Insiders own 80.30% of the company’s stock.

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.