Vestmark Advisory Solutions Inc. Buys Shares of 24,798 UWM Holdings Corporation $UWMC

Vestmark Advisory Solutions Inc. bought a new position in UWM Holdings Corporation (NYSE:UWMC) in the second quarter, HoldingsChannel reports. The institutional investor bought 24,798 shares of the company’s stock, valued at approximately $103,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UWMC. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in UWM by 42.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company’s stock worth $141,000 after buying an additional 7,687 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of UWM by 94.6% during the 2nd quarter. Parallel Advisors LLC now owns 29,533 shares of the company’s stock valued at $122,000 after acquiring an additional 14,358 shares during the last quarter. Cerity Partners LLC bought a new position in UWM during the first quarter valued at approximately $342,000. Russell Investments Group Ltd. grew its position in UWM by 769.3% in the 1st quarter. Russell Investments Group Ltd. now owns 13,413 shares of the company’s stock worth $73,000 after purchasing an additional 11,870 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of UWM by 44.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 171,438 shares of the company’s stock valued at $730,000 after buying an additional 52,718 shares during the period. 53.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on UWMC shares. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.50 to $6.50 in a report on Monday, September 29th. BTIG Research restated a “buy” rating and set a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Barclays increased their price objective on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Finally, UBS Group boosted their target price on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.54.

UWM Trading Down 6.6%

Shares of UWMC stock opened at $5.15 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $7.14. The stock has a fifty day simple moving average of $5.90 and a two-hundred day simple moving average of $4.99. The firm has a market capitalization of $8.23 billion, a PE ratio of -102.90 and a beta of 1.79.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. On average, analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.8%.

Insider Activity

In related news, CEO Ishbia Mat sold 596,356 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32. Following the sale, the chief executive officer directly owned 3,847,188 shares in the company, valued at approximately $21,044,118.36. The trade was a 13.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 19,309,316 shares of company stock valued at $113,285,955 over the last quarter. Insiders own 87.50% of the company’s stock.

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.