Hidden Lake Asset Management LP Invests $2.68 Million in UWM Holdings Corporation $UWMC

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

Several other hedge funds have also bought and sold shares of UWMC. Oak Thistle LLC bought a new stake in UWM during the 3rd quarter worth approximately $1,337,000. Vanguard Group Inc. lifted its holdings in UWM by 6.2% during the third quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after purchasing an additional 1,010,907 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of UWM in the second quarter worth approximately $792,000. Alight Capital Management LP purchased a new stake in shares of UWM in the third quarter worth $3,958,000. Finally, 683 Capital Management LLC purchased a new stake in shares of UWM in the second quarter worth $19,872,000. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UWMC. Weiss Ratings upgraded shares of UWM from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Barclays cut their price target on UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of UWM in a report on Tuesday, March 10th. The Goldman Sachs Group set a $5.00 price objective on UWM in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $6.00 target price on UWM in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.49.

UWM Stock Performance

NYSE:UWMC opened at $3.66 on Monday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 60.92 and a beta of 1.90. UWM Holdings Corporation has a 1 year low of $3.62 and a 1 year high of $7.14. The stock’s 50 day simple moving average is $4.88 and its two-hundred day simple moving average is $5.34. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $759.12 million. As a group, equities 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 announced 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 dividend on an annualized basis and a dividend yield of 10.9%. UWM’s payout ratio is 666.67%.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $3.91, for a total transaction of $2,474,537.34. Following the sale, the chief executive officer directly owned 3,601,919 shares in the company, valued at approximately $14,083,503.29. This represents a 14.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 19,205,826 shares of company stock valued at $93,166,931. Insiders own 94.11% of the company’s stock.

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.