Wealth Enhancement Advisory Services LLC Grows Stock Position in UWM Holdings Corporation (NYSE:UWMC)

Wealth Enhancement Advisory Services LLC increased its position in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 112.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,720 shares of the company's stock after buying an additional 62,862 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in UWM were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in UWMC. GAMMA Investing LLC boosted its holdings in UWM by 101.8% in the first 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 in the last quarter. Sanctuary Advisors LLC bought a new stake in UWM in the fourth quarter valued at $77,000. Townsquare Capital LLC bought a new stake in UWM in the fourth quarter valued at $72,000. Sei Investments Co. bought a new stake in UWM in the fourth quarter valued at $82,000. Finally, Parallel Advisors LLC boosted its holdings in UWM by 60.3% in the first quarter. Parallel Advisors LLC now owns 15,175 shares of the company's stock valued at $83,000 after acquiring an additional 5,709 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $4.05, for a total value of $1,620,145.80. Following the completion of the transaction, the chief executive officer owned 3,499,532 shares of the company's stock, valued at approximately $14,173,104.60. The trade was a 10.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 3,200,288 shares of company stock valued at $13,149,183. 94.11% of the stock is owned by insiders.

UWM Stock Down 6.3%

Shares of UWMC traded down $0.27 during trading hours on Monday, hitting $3.99. The company had a trading volume of 9,622,023 shares, compared to its average volume of 3,828,112. The firm has a fifty day moving average price of $4.22 and a 200-day moving average price of $5.21. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -30.69 and a beta of 1.68. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.74.

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

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.03%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's dividend payout ratio is presently -307.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UWMC. The Goldman Sachs Group dropped their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and dropped their target price for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.75.

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.