Vanguard Group Inc. Has $83.04 Million Stock Position in UWM Holdings Corporation $UWMC

Key Points

• Vanguard increased its stake in UWM Holdings by 9.7% in the fourth quarter, ending with 18.96 million shares valued at about $83.04 million.
• UWM reported stronger-than-expected quarterly results, posting EPS of $0.09 versus the $0.06 estimate and revenue of $901.43 million, well above forecasts.
• Insider selling remains notable, with CEO Mat Ishbia selling 1,003,333 shares in May and insiders offloading 31.27 million shares over the last 90 days. The company also declared a quarterly dividend of $0.10 per share, implying a high annualized yield of 12.8%.

Vanguard Group Inc. boosted its position in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,959,442 shares of the company's stock after purchasing an additional 1,676,754 shares during the period. Vanguard Group Inc. owned 1.19% of UWM worth $83,042,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. boosted its position in UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after purchasing an additional 3,224,806 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in UWM during the third quarter valued at $32,630,000. Bank of America Corp DE boosted its position in UWM by 40.5% during the third quarter. Bank of America Corp DE now owns 5,279,523 shares of the company's stock valued at $32,152,000 after purchasing an additional 1,520,923 shares during the last quarter. Two Sigma Investments LP boosted its position in UWM by 165.5% during the third quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company's stock valued at $30,382,000 after purchasing an additional 3,109,591 shares during the last quarter. Finally, Azora Capital LP boosted its position in UWM by 56.5% during the third quarter. Azora Capital LP now owns 3,414,467 shares of the company's stock valued at $20,794,000 after purchasing an additional 1,232,892 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

Insider Buying and Selling at UWM

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $3.39, for a total value of $3,401,298.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,271,374 shares of company stock valued at $118,745,491 over the last ninety days. 80.30% of the stock is owned by insiders.

UWM Price Performance

Shares of NYSE:UWMC opened at $3.11 on Thursday. UWM Holdings Corporation has a fifty-two week low of $3.08 and a fifty-two week high of $7.14. The business has a 50-day moving average of $3.68 and a two-hundred day moving average of $4.66. The stock has a market capitalization of $4.98 billion, a P/E ratio of 11.53 and a beta of 1.78. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. UWM had a return on equity of 19.01% and a net margin of 1.92%.The company had revenue of $901.43 million during the quarter, compared to analysts' expectations of $709.85 million. On average, equities research analysts predict that UWM Holdings Corporation will post 0.38 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.8%. UWM's payout ratio is currently 148.15%.

Analyst Ratings Changes

A number of analysts recently issued reports on UWMC shares. Keefe, Bruyette & Woods reduced their price objective on UWM from $5.00 to $4.50 and set a "market perform" rating for the company in a research report on Friday, May 8th. Jefferies Financial Group set a $4.40 price objective on UWM in a research report on Wednesday, February 25th. Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Stephens started coverage on UWM in a research report on Friday, April 24th. They issued an "equal weight" rating and a $4.00 price target for the company. Finally, BTIG Research reaffirmed a "buy" rating and issued a $10.00 price target on shares of UWM in a research report on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.79.

About UWM

United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.

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