AGF Management Ltd. Reduces Holdings in UWM Holdings Corporation $UWMC

AGF Management Ltd. lowered its stake in shares of UWM Holdings Corporation (NYSE:UWMC) by 23.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 567,056 shares of the company’s stock after selling 174,978 shares during the quarter. AGF Management Ltd.’s holdings in UWM were worth $3,453,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Balyasny Asset Management L.P. lifted its stake in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after buying an additional 3,224,806 shares during the period. 683 Capital Management LLC acquired a new stake in UWM during the 2nd quarter valued at approximately $19,872,000. Bank of America Corp DE boosted its holdings in shares of UWM by 93.8% in 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of UWM by 47.5% in the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock worth $9,997,000 after acquiring an additional 777,264 shares during the period. Finally, Azora Capital LP purchased a new position in shares of UWM during the second quarter worth $9,032,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

UWM Stock Performance

Shares of UWMC stock opened at $5.06 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $7.14. The business’s 50 day moving average is $5.27 and its two-hundred day moving average is $5.42.

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

UWM Dividend Announcement

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 $0.10 dividend. The ex-dividend date was Thursday, December 18th. This represents a $0.40 annualized dividend and a dividend yield of 7.9%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a report on Thursday, December 18th. Jefferies Financial Group assumed coverage on UWM in a research note on Friday, December 19th. They issued a “hold” rating and a $5.00 target price on the stock. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Wall Street Zen lowered UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th. Finally, UBS Group raised their price objective on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, UWM currently has a consensus rating of “Hold” and a consensus price target of $6.53.

Insider Activity

In other news, CEO Ishbia Mat sold 632,874 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $5.20, for a total transaction of $3,290,944.80. Following the completion of the sale, the chief executive officer owned 6,856,643 shares of the company’s stock, valued at $35,654,543.60. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 19,860,107 shares of company stock valued at $104,636,944 in the last quarter. 94.11% of the stock is owned by company 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.