16,000 Shares in UWM Holdings Corporation $UWMC Acquired by Cherokee Insurance Co

Cherokee Insurance Co acquired a new position in shares of UWM Holdings Corporation (NYSE:UWMC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,000 shares of the company’s stock, valued at approximately $66,000.

A number of other institutional investors have also recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after purchasing an additional 4,693 shares in the last quarter. Quarry LP bought a new stake in UWM during the first quarter worth about $53,000. Focus Partners Wealth acquired a new stake in UWM during the first quarter worth about $55,000. Independent Advisor Alliance acquired a new stake in UWM during the first quarter worth about $58,000. Finally, SYM FINANCIAL Corp bought a new position in UWM in the 1st quarter valued at about $64,000. 53.59% of the stock is currently owned by institutional investors.

UWM Stock Performance

NYSE UWMC opened at $5.15 on Friday. The firm’s fifty day moving average price is $5.90 and its two-hundred day moving average price is $4.99. The stock has a market cap of $8.23 billion, a PE ratio of -102.90 and a beta of 1.79. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The firm had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. On average, equities analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend is Thursday, December 18th.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 596,356 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32. Following the completion of the transaction, the chief executive officer owned 3,847,188 shares of the company’s stock, valued at $21,044,118.36. This represents a 13.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 19,309,316 shares of company stock worth $113,285,955 in the last quarter. Insiders own 87.50% of the company’s stock.

Analyst Ratings Changes

UWMC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Morgan Stanley downgraded UWM from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $4.50 to $6.50 in a report on Monday, September 29th. BTIG Research reiterated a “buy” rating and issued a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Finally, Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.54.

About UWM

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.