UWM Holdings Corporation $UWMC Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC grew its position in UWM Holdings Corporation (NYSE:UWMC) by 94.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,533 shares of the company’s stock after acquiring an additional 14,358 shares during the period. Parallel Advisors LLC’s holdings in UWM were worth $122,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Inspire Investing LLC raised its position in shares of UWM by 14.7% in the first quarter. Inspire Investing LLC now owns 216,640 shares of the company’s stock worth $1,183,000 after acquiring an additional 27,751 shares during the period. Focus Partners Wealth acquired a new position in shares of UWM in the first quarter worth about $55,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of UWM in the first quarter worth about $92,000. AQR Capital Management LLC raised its position in shares of UWM by 1,144.7% in the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the period. Finally, PDT Partners LLC raised its position in shares of UWM by 330.6% in the first quarter. PDT Partners LLC now owns 146,698 shares of the company’s stock worth $801,000 after acquiring an additional 112,632 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88. Following the completion of the sale, the chief executive officer owned 4,319,648 shares of the company’s stock, valued at $26,911,407.04. This represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 15,186,596 shares of company stock valued at $78,607,852. Corporate insiders own 94.11% of the company’s stock.

UWM Stock Up 1.2%

Shares of NYSE UWMC opened at $6.40 on Wednesday. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $8.73. The stock has a market cap of $10.23 billion, a PE ratio of -127.92 and a beta of 1.76. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a 50-day moving average of $5.36 and a 200 day moving average of $4.88.

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

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.3%. UWM’s dividend payout ratio is -800.00%.

Analysts Set New Price Targets

UWMC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. 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. The Goldman Sachs Group cut 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. BTIG Research reissued a “buy” rating and set a $10.00 target price on shares of UWM in a research note on Monday. Finally, Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.18.

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.