Wealth Enhancement Advisory Services LLC Sells 2,504 Shares of UWM Holdings Co. (NYSE:UWMC)

Wealth Enhancement Advisory Services LLC cut its stake in UWM Holdings Co. (NYSE:UWMC) by 4.8% during the second quarter, HoldingsChannel reports. The firm owned 49,228 shares of the company’s stock after selling 2,504 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in UWM were worth $341,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wedmont Private Capital increased its holdings in UWM by 29.6% during the 2nd quarter. Wedmont Private Capital now owns 18,150 shares of the company’s stock worth $139,000 after purchasing an additional 4,147 shares during the period. SG Americas Securities LLC increased its stake in shares of UWM by 1,743.3% during the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after buying an additional 226,819 shares during the period. CWM LLC raised its holdings in shares of UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in UWM by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after acquiring an additional 3,207 shares during the period. Finally, Quadrature Capital Ltd lifted its stake in UWM by 124.3% in the first quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock worth $397,000 after acquiring an additional 30,361 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UWMC shares. The Goldman Sachs Group boosted their price target on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. Barclays boosted their price objective on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. Wedbush increased their target price on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods boosted their price target on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Finally, BTIG Research upped their price objective on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.29.

UWM Price Performance

NYSE UWMC opened at $9.52 on Monday. The firm’s fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $7.22. The firm has a market capitalization of $909.90 million, a P/E ratio of 317.33 and a beta of 1.63. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. UWM Holdings Co. has a 12-month low of $4.49 and a 12-month high of $9.74.

UWM (NYSE:UWMC) last announced its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter last year, the business posted $0.11 EPS. Analysts forecast that UWM Holdings Co. will post 0.28 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.20%. UWM’s payout ratio is 1,333.33%.

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.