Vestmark Advisory Solutions Inc. Takes $103,000 Position in UWM Holdings Corporation $UWMC

Vestmark Advisory Solutions Inc. bought a new position in shares of UWM Holdings Corporation (NYSE:UWMC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,798 shares of the company’s stock, valued at approximately $103,000.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock valued at $13,633,000 after purchasing an additional 2,296,205 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of UWM by 81.5% during the first quarter. Cubist Systematic Strategies LLC now owns 979,578 shares of the company’s stock valued at $5,348,000 after buying an additional 439,928 shares during the period. Nishkama Capital LLC bought a new position in shares of UWM during the first quarter valued at approximately $2,042,000. Victory Capital Management Inc. raised its holdings in shares of UWM by 1,773.5% during the first quarter. Victory Capital Management Inc. now owns 380,875 shares of the company’s stock valued at $2,080,000 after acquiring an additional 360,545 shares in the last quarter. Finally, Carrera Capital Advisors lifted its stake in UWM by 139.0% in the first quarter. Carrera Capital Advisors now owns 481,370 shares of the company’s stock worth $2,677,000 after acquiring an additional 279,996 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Down 6.6%

Shares of UWM stock opened at $5.15 on Friday. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.14. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of -102.90 and a beta of 1.79. The company has a 50-day moving average of $5.90 and a 200 day moving average of $4.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55.

UWM (NYSE:UWMC) last announced its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. As a group, sell-side analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend is Thursday, December 18th.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UWMC. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $4.50 to $6.50 in a research report on Monday, September 29th. Barclays lifted their target price on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. BTIG Research reissued a “buy” rating and issued a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.54.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $6.84, for a total value of $4,079,075.04. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 19,309,316 shares of company stock worth $113,285,955 in the last ninety days. 87.50% of the stock is owned by company insiders.

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.