UWM Holdings Co. (NYSE:UWMC) Shares Sold by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lowered its holdings in UWM Holdings Co. (NYSE:UWMC) by 32.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,974 shares of the company’s stock after selling 20,525 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in UWM were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. X Square Capital LLC acquired a new stake in shares of UWM in the third quarter worth $298,000. International Assets Investment Management LLC boosted its holdings in UWM by 752.0% during the third quarter. International Assets Investment Management LLC now owns 63,900 shares of the company’s stock worth $544,000 after buying an additional 56,400 shares in the last quarter. TriaGen Wealth Management LLC purchased a new stake in UWM during the third quarter worth $453,000. Blue Trust Inc. boosted its holdings in UWM by 106.7% during the third quarter. Blue Trust Inc. now owns 33,995 shares of the company’s stock worth $290,000 after buying an additional 17,545 shares in the last quarter. Finally, Creative Planning boosted its holdings in UWM by 42.4% during the third quarter. Creative Planning now owns 48,963 shares of the company’s stock worth $417,000 after buying an additional 14,589 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,562,547.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 94.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. BTIG Research increased their price target on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Wedbush increased their price target on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus target price of $7.68.

UWM Stock Performance

NYSE:UWMC opened at $6.29 on Friday. The company’s 50-day moving average price is $8.06 and its 200-day moving average price is $7.68. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The company has a market cap of $601.39 million, a P/E ratio of -314.50 and a beta of 1.63. UWM Holdings Co. has a twelve month low of $5.01 and a twelve month high of $9.74.

UWM (NYSE:UWMC) last posted its quarterly 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 firm had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, sell-side analysts forecast that UWM Holdings Co. will post 0.26 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.36%. The ex-dividend date of this dividend was Thursday, September 19th. UWM’s dividend payout ratio 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.