Carrera Capital Advisors Has $1.74 Million Holdings in UWM Holdings Corporation $UWMC

Carrera Capital Advisors cut its position in shares of UWM Holdings Corporation (NYSE:UWMC) by 42.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,412 shares of the company’s stock after selling 204,966 shares during the period. Carrera Capital Advisors’ holdings in UWM were worth $1,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UWMC. 683 Capital Management LLC acquired a new stake in UWM during the second quarter worth $19,872,000. Balyasny Asset Management L.P. lifted its holdings in shares of UWM by 116.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after acquiring an additional 3,224,806 shares during the period. Azora Capital LP acquired a new stake in shares of UWM during the 2nd quarter valued at about $9,032,000. Bank of America Corp DE boosted its position in shares of UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after acquiring an additional 1,819,129 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in UWM in the second quarter valued at about $4,992,000. 53.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on UWMC shares. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on UWM in a report on Friday, December 19th. They issued a “hold” rating and a $5.00 target price for the company. Wall Street Zen downgraded UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th. Morgan Stanley set a $6.00 price target on UWM in a research report on Tuesday, December 16th. Finally, UBS Group increased their price objective on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, UWM currently has an average rating of “Hold” and a consensus target price of $6.53.

UWM Trading Down 14.0%

UWM stock opened at $4.90 on Friday. The business’s fifty day moving average is $5.28 and its two-hundred day moving average is $5.40. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. UWM had a net margin of 0.61% and a negative return on equity of 6.81%. On average, equities analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Thursday, December 18th.

Insider Activity

In other news, CEO Ishbia Mat sold 632,874 shares of the stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $4.57, for a total transaction of $2,892,234.18. Following the sale, the chief executive officer directly owned 2,245,619 shares of the company’s stock, valued at $10,262,478.83. This represents a 21.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 19,787,071 shares of company stock worth $105,009,906 in the last quarter. 87.50% of the stock is currently owned by corporate insiders.

UWM Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.