UWM Holdings Corporation $UWMC Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,841,704 shares of the company's stock after selling 923,206 shares during the quarter. Vanguard Group Inc. owned approximately 0.68% of UWM worth $59,196,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Carrera Capital Advisors lifted its holdings in UWM by 139.0% in the first quarter. Carrera Capital Advisors now owns 481,370 shares of the company's stock valued at $2,677,000 after acquiring an additional 279,996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in UWM by 42.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company's stock valued at $141,000 after purchasing an additional 7,687 shares during the period. Integrated Investment Consultants LLC grew its holdings in UWM by 20.6% in the first quarter. Integrated Investment Consultants LLC now owns 115,655 shares of the company's stock valued at $631,000 after purchasing an additional 19,741 shares during the period. Cetera Investment Advisers grew its holdings in UWM by 8.1% in the first quarter. Cetera Investment Advisers now owns 93,722 shares of the company's stock valued at $512,000 after purchasing an additional 6,988 shares during the period. Finally, Mount Lucas Management LP acquired a new stake in UWM in the 1st quarter valued at $1,043,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UWMC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut shares of UWM from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays raised shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target on the stock in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group dropped their price target on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.54.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $4.22, for a total transaction of $1,688,151.92. Following the transaction, the chief executive officer directly owned 1,499,352 shares in the company, valued at $6,327,265.44. The trade was a 21.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 10,800,972 shares of company stock worth $47,652,288. Insiders own 94.11% of the company's stock.

UWM Price Performance

Shares of UWM stock opened at $5.8150 on Monday. The business has a 50 day simple moving average of $4.45 and a two-hundred day simple moving average of $4.89. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $9.74. The stock has a market capitalization of $9.30 billion, a P/E ratio of -116.30 and a beta of 1.70. 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 announced its earnings results on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating 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 business had revenue of $758.70 million during the quarter, compared to analysts' expectations of $621.60 million. As a group, analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is currently -800.00%.

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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