UWM Holdings Corporation $UWMC Shares Bought by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in UWM Holdings Corporation by 44.4% in the second quarter, acquiring an additional 52,718 shares, bringing its total holdings to 171,438 shares valued at $730,000.
• UWM's CEO, Ishbia Mat, sold 596,356 shares of the company at an average price of $6.22, resulting in a transaction worth over $3.7 million, which represents a 7.91% decrease in their ownership.
• The company recently declared a quarterly dividend of $0.10 per share, with a yield of 6.7%, scheduled for payment on October 9th to shareholders of record on September 18th.

Wealth Enhancement Advisory Services LLC boosted its position in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 44.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 171,438 shares of the company's stock after acquiring an additional 52,718 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in UWM were worth $730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in UWM by 94.6% during the 2nd quarter. Parallel Advisors LLC now owns 29,533 shares of the company's stock worth $122,000 after acquiring an additional 14,358 shares during the period. Inspire Investing LLC lifted its position in UWM by 14.7% during the 1st quarter. Inspire Investing LLC now owns 216,640 shares of the company's stock worth $1,183,000 after acquiring an additional 27,751 shares during the period. Focus Partners Wealth acquired a new stake in UWM during the 1st quarter worth about $55,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of UWM in the 1st quarter valued at about $92,000. Finally, AQR Capital Management LLC lifted its holdings in shares of UWM by 1,144.7% in the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after buying an additional 2,296,205 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 596,356 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $6.22, for a total transaction of $3,709,334.32. Following the sale, the chief executive officer owned 6,945,156 shares of the company's stock, valued at approximately $43,198,870.32. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 16,371,912 shares of company stock worth $88,476,372 over the last 90 days. 87.50% of the stock is currently owned by corporate insiders.

UWM Stock Down 1.6%

NYSE:UWMC opened at $5.98 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock's fifty day moving average is $5.65 and its two-hundred day moving average is $4.89. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.89. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of -119.50 and a beta of 1.79.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The company had revenue of $758.70 million for the quarter, compared to analysts' expectations of $621.60 million. Research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Thursday, September 18th. UWM's dividend payout ratio is -800.00%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UWMC. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Weiss Ratings reissued a "sell (d+)" rating on shares of UWM in a report on Saturday, September 27th. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley lowered UWM from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $4.50 to $6.50 in a research note on Monday, September 29th. Finally, The Goldman Sachs Group cut their price target on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.18.

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.

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