Private Advisor Group LLC Sells 2,831 Shares of UWM Holdings Co. (NYSE:UWMC)

Private Advisor Group LLC trimmed its position in shares of UWM Holdings Co. (NYSE:UWMC) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,583 shares of the company’s stock after selling 2,831 shares during the quarter. Private Advisor Group LLC’s holdings in UWM were worth $192,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. McAdam LLC grew its stake in shares of UWM by 16.0% during the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after purchasing an additional 1,758 shares during the last quarter. Wedmont Private Capital boosted its stake in UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock valued at $171,000 after acquiring an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in UWM by 8.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after acquiring an additional 1,991 shares during the last quarter. CWM LLC boosted its stake in 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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 valued at $421,000 after acquiring an additional 3,207 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of recent analyst reports. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. BTIG Research boosted their price objective on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Morgan Stanley began coverage on shares of UWM in a research report on Tuesday. They issued an “equal weight” rating and a $7.50 price objective on the stock. Finally, Wedbush boosted their price objective on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.66.

Insider Activity at UWM

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.11, for a total value of $45,550,000.00. Following the completion of the sale, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,562,547.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 94.11% of the stock is owned by company insiders.

UWM Stock Up 1.1 %

UWM stock opened at $6.23 on Friday. UWM Holdings Co. has a fifty-two week low of $5.23 and a fifty-two week high of $9.74. The firm has a market capitalization of $595.18 million, a PE ratio of -308.00 and a beta of 1.67. The company’s 50-day moving average is $7.83 and its 200-day moving average is $7.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the prior year, the business posted $0.11 EPS. Sell-side analysts anticipate that UWM Holdings Co. will post 0.26 earnings per share for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.43%. UWM’s dividend payout ratio (DPR) is currently -2,000.00%.

UWM 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.