Park Avenue Securities LLC Takes $72,000 Position in UWM Holdings Corporation $UWMC

Park Avenue Securities LLC acquired a new stake in UWM Holdings Corporation (NYSE:UWMC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,403 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UWMC. GAMMA Investing LLC lifted its holdings in UWM by 101.8% in 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 in the last quarter. Signaturefd LLC lifted its holdings in UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after purchasing an additional 4,693 shares in the last quarter. Quarry LP purchased a new position in UWM in the 1st quarter valued at $53,000. Focus Partners Wealth purchased a new position in UWM in the 1st quarter valued at $55,000. Finally, Independent Advisor Alliance purchased a new position in UWM in the 1st quarter valued at $58,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UWMC shares. Barclays upgraded UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective on the stock in a report on Tuesday, July 8th. BTIG Research reaffirmed a “buy” rating and issued a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. The Goldman Sachs Group cut their target price on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods downgraded 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. Finally, Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.18.

UWM Stock Performance

Shares of UWM stock opened at $6.10 on Friday. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $8.03. The company has a market cap of $9.75 billion, a PE ratio of -121.90 and a beta of 1.79. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The business has a 50-day simple moving average of $5.62 and a 200-day simple moving average of $4.90.

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

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 6.6%. UWM’s payout ratio is -800.00%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $6.84, for a total transaction of $4,079,075.04. Following the transaction, the chief executive officer owned 6,705,072 shares of the company’s stock, valued at $45,862,692.48. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 16,371,912 shares of company stock worth $88,476,372 over the last quarter. Insiders own 87.50% of the company’s stock.

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.