Cresset Asset Management LLC raised its holdings in UWM Holdings Corporation (NYSE:UWMC – Free Report) by 14.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,638 shares of the company’s stock after acquiring an additional 4,625 shares during the quarter. Cresset Asset Management LLC’s holdings in UWM were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of UWMC. GAMMA Investing LLC boosted its stake in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after purchasing an additional 2,958 shares during the period. Signaturefd LLC increased its stake in UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after buying an additional 4,693 shares during the period. Independent Advisor Alliance bought a new stake in UWM during the 1st quarter valued at about $58,000. SYM FINANCIAL Corp purchased a new stake in UWM in the 1st quarter valued at about $64,000. Finally, Sequoia Financial Advisors LLC bought a new position in UWM in the 1st quarter worth about $65,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.
Wall Street Analysts Forecast Growth
UWMC has been the topic of several research reports. Keefe, Bruyette & Woods downgraded UWM from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. The Goldman Sachs Group dropped their price target on UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Wednesday, July 2nd. Barclays upgraded UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.54.
Insider Activity at UWM
In related news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $4.22, for a total value of $1,688,151.92. Following the completion of the sale, the chief executive officer directly owned 1,499,352 shares in the company, valued at $6,327,265.44. This trade represents a 21.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 11,601,044 shares of company stock valued at $52,256,703. Company insiders own 94.11% of the company’s stock.
UWM Trading Up 1.5%
Shares of NYSE:UWMC opened at $5.78 on Wednesday. The business’s fifty day simple moving average is $4.52 and its 200-day simple moving average is $4.89. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $9.45. The company has a market capitalization of $9.24 billion, a PE ratio of -115.50 and a beta of 1.70.
UWM (NYSE:UWMC – Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The firm had revenue of $758.70 million during the quarter, compared to analysts’ expectations of $621.60 million. As a group, equities research analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.
UWM Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.9%. UWM’s dividend payout ratio is -800.00%.
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.
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