Virtu Financial LLC Makes New $1.80 Million Investment in UWM Holdings Corporation $UWMC

Virtu Financial LLC purchased a new position in shares of UWM Holdings Corporation (NYSE:UWMC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 410,785 shares of the company’s stock, valued at approximately $1,799,000.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after purchasing an additional 4,091 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in UWM during the second quarter valued at about $35,000. Farther Finance Advisors LLC lifted its stake in shares of UWM by 1,410.7% in the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after acquiring an additional 8,027 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of UWM in the 3rd quarter valued at about $38,000. Finally, Quent Long Short Global Small Cap Fund LP purchased a new stake in UWM during the 4th quarter valued at about $44,000. 53.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UWMC. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of UWM in a report on Friday, June 5th. Morgan Stanley set a $5.00 price target on shares of UWM in a report on Thursday, May 7th. Stephens started coverage on shares of UWM in a research report on Friday, April 24th. They set an “equal weight” rating and a $4.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $5.50 price objective on shares of UWM in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, UWM presently has a consensus rating of “Hold” and an average target price of $5.19.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $3.57, for a total value of $3,581,898.81. Following the completion of the transaction, the chief executive officer owned 2,995,754 shares of the company’s stock, valued at approximately $10,694,841.78. This represents a 25.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,940,912 shares of company stock worth $80,571,523. 80.30% of the stock is currently owned by corporate insiders.

UWM Trading Down 1.1%

NYSE:UWMC opened at $2.19 on Friday. The company has a 50-day moving average price of $3.14 and a 200-day moving average price of $4.15. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 8.13 and a beta of 1.72. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 3.13. UWM Holdings Corporation has a 12 month low of $2.14 and a 12 month high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 19.01%. The company had revenue of $901.43 million for the quarter, compared to analysts’ expectations of $709.85 million. Equities analysts predict that UWM Holdings Corporation will post 0.38 EPS for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 18.2%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s payout ratio is presently 148.15%.

About UWM

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.