UWM Holdings Corporation (NYSE:UWMC) Position Boosted by Carrera Capital Advisors

Key Points

• Carrera Capital Advisors increased its stake in UWM Holdings by 139% in the first quarter, owning 481,370 shares valued at $2,677,000.
• UWM reported a earnings miss for the quarter, with an EPS of ($0.23) compared to analyst estimates of $0.06, while revenue exceeded expectations at $613.37 million.
• The company declared a quarterly dividend of $0.10, representing a 9.40% yield, but has a negative dividend payout ratio of -307.69%.

Carrera Capital Advisors lifted its stake in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 139.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 481,370 shares of the company's stock after purchasing an additional 279,996 shares during the period. Carrera Capital Advisors' holdings in UWM were worth $2,677,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock worth $69,060,000 after acquiring an additional 3,212,081 shares during the last quarter. First Trust Advisors LP lifted its holdings in UWM by 886.9% in the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after acquiring an additional 3,349,779 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in UWM in the fourth quarter worth about $6,602,000. Voloridge Investment Management LLC lifted its holdings in UWM by 9.9% in the fourth quarter. Voloridge Investment Management LLC now owns 699,778 shares of the company's stock worth $4,108,000 after acquiring an additional 62,978 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in UWM by 51.0% in the fourth quarter. Bank of Nova Scotia now owns 621,392 shares of the company's stock worth $3,648,000 after acquiring an additional 209,903 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

UWM Price Performance

NYSE UWMC opened at $4.26 on Friday. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $9.74. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $6.80 billion, a PE ratio of -32.73 and a beta of 1.68. The company's 50 day simple moving average is $4.20 and its 200 day simple moving average is $5.07.

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

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.40%. UWM's dividend payout ratio (DPR) is -307.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and cut their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and cut their price target for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target on the stock in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group cut their price target on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.18.

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $4.22, for a total value of $1,688,151.92. Following the transaction, the chief executive officer owned 1,499,352 shares in the company, valued at approximately $6,327,265.44. The trade was a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 6,000,540 shares of company stock valued at $25,166,265 in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.