Wealth Enhancement Advisory Services LLC Purchases 6,976 Shares of UWM Holdings Co. (NYSE:UWMC)

Wealth Enhancement Advisory Services LLC lifted its position in shares of UWM Holdings Co. (NYSE:UWMC) by 14.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,858 shares of the company’s stock after buying an additional 6,976 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in UWM were worth $328,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in UWM during the 4th quarter valued at approximately $77,000. Townsquare Capital LLC bought a new position in shares of UWM during the fourth quarter worth $72,000. Sei Investments Co. purchased a new position in UWM during the fourth quarter valued at $82,000. Sherbrooke Park Advisers LLC grew its stake in UWM by 17.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock valued at $118,000 after acquiring an additional 2,975 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in UWM in the 4th quarter valued at $121,000. Institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

UWMC has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Keefe, Bruyette & Woods dropped their price target on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and cut their price target for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Finally, Wedbush reaffirmed a “neutral” rating and set a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, UWM currently has a consensus rating of “Hold” and a consensus price target of $6.86.

UWM Trading Down 4.7%

UWMC opened at $4.18 on Friday. The stock has a 50-day moving average of $4.35 and a 200 day moving average of $5.44. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a 12 month low of $3.89 and a 12 month high of $9.74. The firm has a market cap of $6.68 billion, a P/E ratio of -18.16 and a beta of 1.70.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The firm had revenue of $613.37 million during the quarter, compared to analysts’ expectations of $558.80 million. As a group, research analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.58%. The ex-dividend date is Wednesday, June 18th. UWM’s dividend payout ratio is presently -307.69%.

UWM Company Profile

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.