Charles Schwab Investment Management Inc. Sells 5,871 Shares of UWM Holdings Corporation $UWMC

Charles Schwab Investment Management Inc. reduced its position in shares of UWM Holdings Corporation (NYSE:UWMC) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 574,676 shares of the company’s stock after selling 5,871 shares during the period. Charles Schwab Investment Management Inc.’s holdings in UWM were worth $3,138,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in UWM by 101.8% during the 1st 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 last quarter. Sherbrooke Park Advisers LLC raised its stake in shares of UWM by 17.4% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after acquiring an additional 2,975 shares during the last quarter. Mariner LLC raised its stake in shares of UWM by 5.1% in the fourth quarter. Mariner LLC now owns 64,455 shares of the company’s stock worth $378,000 after acquiring an additional 3,126 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of UWM by 13.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company’s stock worth $174,000 after acquiring an additional 3,524 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of UWM by 10.9% in the first quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company’s stock worth $241,000 after acquiring an additional 4,336 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $4.22, for a total transaction of $1,688,151.92. Following the completion of the transaction, the chief executive officer owned 1,499,352 shares in the company, valued at approximately $6,327,265.44. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 12,001,080 shares of company stock worth $54,528,907 in the last ninety days. Corporate insiders own 87.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UWMC. Keefe, Bruyette & Woods downgraded shares of UWM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. The Goldman Sachs Group dropped their target price on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Barclays raised shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price for the company in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.54.

UWM Stock Up 1.9%

UWM stock opened at $5.69 on Friday. The stock has a market capitalization of $9.09 billion, a PE ratio of -113.70 and a beta of 1.70. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.45. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a 50 day moving average of $4.62 and a 200-day moving average of $4.89.

UWM (NYSE:UWMC) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. The company had revenue of $758.70 million during the quarter, compared to analysts’ expectations of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, equities research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 yield of 7.0%. UWM’s dividend payout ratio is presently -800.00%.

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.