AGF Management Ltd. Sells 174,978 Shares of UWM Holdings Corporation $UWMC

AGF Management Ltd. decreased its holdings in UWM Holdings Corporation (NYSE:UWMC) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 567,056 shares of the company’s stock after selling 174,978 shares during the period. AGF Management Ltd.’s holdings in UWM were worth $3,453,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after purchasing an additional 4,344 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of UWM during the second quarter valued at approximately $35,000. R Squared Ltd purchased a new position in shares of UWM in the second quarter worth $51,000. Focus Partners Wealth bought a new position in shares of UWM during the first quarter worth $55,000. Finally, PNC Financial Services Group Inc. grew its stake in UWM by 79.2% during the second quarter. PNC Financial Services Group Inc. now owns 14,467 shares of the company’s stock valued at $60,000 after acquiring an additional 6,395 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Insider Activity at UWM

In related 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 completion of the sale, the chief executive officer 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 legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 19,860,107 shares of company stock worth $104,636,944. Insiders own 94.11% of the company’s stock.

Analysts Set New Price Targets

UWMC has been the topic of several research analyst reports. Morgan Stanley set a $6.00 price target on shares of UWM in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods boosted their target price on UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. UBS Group increased their price target on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Wall Street Zen downgraded UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Finally, Jefferies Financial Group assumed coverage on UWM in a report on Friday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, UWM presently has a consensus rating of “Hold” and a consensus price target of $6.53.

UWM Stock Performance

Shares of NYSE UWMC opened at $5.06 on Wednesday. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.14. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50-day simple moving average of $5.27 and a two-hundred day simple moving average of $5.42.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $151.14 million for 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%. As a group, research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed 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 of this dividend was Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.9%.

UWM Company 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.