UWM Holdings Corporation $UWMC Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in UWM Holdings Corporation by 36.5%, selling 367,536 shares during the first quarter and now holding $3,495,000 worth of shares.
• UWM Holdings announced a quarterly dividend of $0.10 per share, representing a 6.1% yield, with the payment date set for October 9th and an ex-dividend date of September 18th.
• Recent earnings showed UWM reporting $0.16 EPS, exceeding analysts' expectations, and the company has a current consensus rating of "Hold" with an average target price of $5.54.

Goldman Sachs Group Inc. cut its holdings in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 36.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 640,168 shares of the company's stock after selling 367,536 shares during the period. Goldman Sachs Group Inc.'s holdings in UWM were worth $3,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position 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 acquiring an additional 2,958 shares during the period. Sherbrooke Park Advisers LLC increased its holdings in shares of UWM by 17.4% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company's stock valued at $118,000 after purchasing an additional 2,975 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of UWM by 10.9% in the first quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company's stock valued at $241,000 after purchasing an additional 4,336 shares during the period. Cresset Asset Management LLC raised its stake in shares of UWM by 14.4% during the first quarter. Cresset Asset Management LLC now owns 36,638 shares of the company's stock worth $204,000 after purchasing an additional 4,625 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after purchasing an additional 4,693 shares during the period. Hedge funds and other institutional investors own 53.59% of the company's stock.

UWM Price Performance

UWMC traded down $0.09 during trading on Monday, reaching $6.32. 12,569,814 shares of the stock were exchanged, compared to its average volume of 7,825,112. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $8.73. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of -126.30 and a beta of 1.75. The business's 50 day moving average price is $5.32 and its two-hundred day moving average price is $4.86. 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 - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping 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 business had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. As a group, equities research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is currently -800.00%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group reduced 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. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a research report on Tuesday, July 8th. 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 report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.54.

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 596,356 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $6.23, for a total transaction of $3,715,297.88. Following the completion of the transaction, the chief executive officer owned 4,319,648 shares of the company's stock, valued at approximately $26,911,407.04. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 15,586,632 shares of company stock valued at $80,264,001. 94.11% of the stock is currently owned by corporate insiders.

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.