UWM Holdings Co. (NYSE:UWMC) Holdings Trimmed by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,583 shares of the company’s stock after selling 2,831 shares during the period. Private Advisor Group LLC’s holdings in UWM were worth $192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UWMC. CWM LLC grew its holdings in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of UWM during the 2nd quarter valued at $52,000. SageView Advisory Group LLC purchased a new position in shares of UWM during the 1st quarter valued at $55,000. Xponance Inc. purchased a new position in shares of UWM during the 2nd quarter valued at $76,000. Finally, Intech Investment Management LLC purchased a new position in shares of UWM during the 2nd quarter valued at $85,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on UWMC shares. Keefe, Bruyette & Woods boosted their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley started coverage on shares of UWM in a report on Tuesday. They issued an “equal weight” rating and a $7.50 price objective for the company. Finally, UBS Group upped their price objective on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.66.

UWM Stock Up 1.1 %

UWM stock opened at $6.23 on Friday. The firm has a market cap of $595.18 million, a price-to-earnings ratio of -308.00 and a beta of 1.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. UWM Holdings Co. has a fifty-two week low of $5.23 and a fifty-two week high of $9.74. The firm has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $7.68.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same period last year, the company posted $0.11 earnings per share. As a group, analysts forecast that UWM Holdings Co. will post 0.26 earnings per share for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio is -2,000.00%.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.