Easterly Investment Partners LLC Has $1 Million Position in UWM Holdings Corporation $UWMC

Key Points

• Easterly Investment Partners LLC increased its stake in UWM Holdings Corporation by 45.5%, bringing its total holdings to 242,225 shares valued at approximately $1 million.
• UWM last reported earnings of $0.16 per share, exceeding estimates, with a revenue of $758.7 million for the quarter, surpassing consensus predictions.
• The company announced a quarterly dividend of $0.10 per share, offering an annualized yield of 7.4%, despite a notably high dividend payout ratio of -800.00%.

Easterly Investment Partners LLC raised its position in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 45.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 242,225 shares of the company's stock after purchasing an additional 75,715 shares during the quarter. Easterly Investment Partners LLC's holdings in UWM were worth $1,003,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake 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 period. Cubist Systematic Strategies LLC raised its stake in UWM by 81.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 979,578 shares of the company's stock valued at $5,348,000 after purchasing an additional 439,928 shares during the period. Carrera Capital Advisors raised its stake in UWM by 139.0% during the 1st quarter. Carrera Capital Advisors now owns 481,370 shares of the company's stock valued at $2,677,000 after purchasing an additional 279,996 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in UWM by 15.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock valued at $2,229,000 after purchasing an additional 54,160 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of UWM by 53.4% in the first quarter. Quantbot Technologies LP now owns 404,164 shares of the company's stock worth $2,207,000 after acquiring an additional 140,628 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Trading Up 2.4%

UWM stock opened at $5.41 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of -108.10 and a beta of 1.79. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.40. The company's fifty day moving average price is $5.88 and its two-hundred day moving average price is $4.87.

UWM (NYSE:UWMC - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. The firm had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend was Thursday, September 18th. UWM's dividend payout ratio is presently -800.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UWMC. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a research note on Wednesday, October 8th. Barclays upped their price target on shares of UWM from $6.00 to $7.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. 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, UBS Group upped their price target on shares of UWM from $4.50 to $5.50 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, UWM has an average rating of "Hold" and an average target price of $6.46.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 596,356 shares of the firm's 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 sale, the chief executive officer directly owned 6,705,072 shares of the company's stock, valued at approximately $45,862,692.48. This trade represents a 8.17% 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 17,549,832 shares of company stock worth $98,186,927 over the last 90 days. Corporate insiders own 87.50% of the company's stock.

UWM 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.

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