440,785 Shares in UWM Holdings Corporation $UWMC Bought by Hidden Lake Asset Management LP

Hidden Lake Asset Management LP acquired a new position in shares of UWM Holdings Corporation (NYSE:UWMC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 440,785 shares of the company’s stock, valued at approximately $2,684,000.

A number of other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of UWM in the 1st quarter worth about $92,000. Focus Partners Wealth purchased a new stake in UWM in the 1st quarter worth about $55,000. Envestnet Asset Management Inc. lifted its stake in UWM by 437.2% in the second quarter. Envestnet Asset Management Inc. now owns 121,444 shares of the company’s stock worth $503,000 after purchasing an additional 98,837 shares during the last quarter. Vise Technologies Inc. bought a new stake in UWM in the second quarter worth about $153,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of 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 buying an additional 6,395 shares during the period. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

UWMC has been the topic of several recent analyst reports. The Goldman Sachs Group set a $5.00 price target on UWM in a report on Tuesday, January 6th. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays reduced their target price on UWM from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Jefferies Financial Group set a $4.40 target price on UWM in a research report on Wednesday, February 25th. Finally, Compass Point started coverage on shares of UWM in a report on Tuesday, March 10th. They issued a “buy” rating and a $8.50 price target on the stock. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.49.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $3.91, for a total value of $2,474,537.34. Following the completion of the sale, the chief executive officer owned 3,601,919 shares of the company’s stock, valued at approximately $14,083,503.29. This represents a 14.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 19,205,826 shares of company stock valued at $93,166,931. Insiders own 94.11% of the company’s stock.

UWM Price Performance

UWMC opened at $3.66 on Monday. UWM Holdings Corporation has a 12-month low of $3.62 and a 12-month high of $7.14. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. The business’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $5.34. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 60.92 and a beta of 1.90.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The firm had revenue of $945.25 million during the quarter, compared to the consensus estimate of $759.12 million. On average, equities research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 10.9%. UWM’s payout ratio is currently 666.67%.

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.