62,631 Shares in UWM Holdings Corporation (NYSE:UWMC) Acquired by Cerity Partners LLC

Key Points

• Cerity Partners LLC has acquired a new stake in UWM Holdings Corporation, purchasing 62,631 shares valued at approximately $342,000 in the first quarter.
• CEO Ishbia Mat sold 400,036 shares of UWM's stock for over $1.86 million, reducing his ownership by 12.13% to 2,899,100 shares.
• A consensus of research analysts currently rates UWM as a "Hold" with a target price of $6.18, following recent revisions from multiple firms.

Cerity Partners LLC purchased a new stake in UWM Holdings Corporation (NYSE:UWMC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 62,631 shares of the company's stock, valued at approximately $342,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in shares of UWM during the 4th quarter worth approximately $206,000. Sei Investments Co. acquired a new stake in UWM during the 4th quarter worth $82,000. KLP Kapitalforvaltning AS acquired a new stake in UWM during the 4th quarter worth $121,000. LPL Financial LLC lifted its position in UWM by 19.7% in the fourth quarter. LPL Financial LLC now owns 255,171 shares of the company's stock valued at $1,498,000 after acquiring an additional 42,042 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after acquiring an additional 3,212,081 shares in the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $4.65, for a total transaction of $1,860,167.40. Following the transaction, the chief executive officer directly owned 2,899,100 shares in the company, valued at $13,480,815. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 6,000,540 shares of company stock valued at $25,166,265. 87.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UWMC shares. Barclays raised 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. 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 note on Wednesday, July 2nd. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. Finally, UBS Group raised UWM from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $6.18.

UWM Stock Down 2.9%

UWMC opened at $4.26 on Friday. The business has a 50 day moving average price of $4.20 and a two-hundred day moving average price of $5.07. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $9.74. The company has a market cap of $6.80 billion, a PE ratio of -32.73 and a beta of 1.68. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. The company had revenue of $613.37 million for the quarter, compared to analysts' expectations of $558.80 million. As a group, research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.40%. UWM's payout ratio is currently -307.69%.

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.

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