Holocene Advisors LP cut its position in UWM Holdings Co. (NYSE:UWMC - Free Report) by 52.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 201,827 shares of the company's stock after selling 218,921 shares during the period. Holocene Advisors LP owned approximately 0.21% of UWM worth $1,720,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in UWM by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company's stock valued at $421,000 after acquiring an additional 3,207 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of UWM by 24.5% during the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company's stock valued at $2,372,000 after purchasing an additional 67,383 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of UWM by 1,743.3% during the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company's stock valued at $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of UWM by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company's stock valued at $11,870,000 after buying an additional 199,900 shares during the last quarter. Finally, Inspire Investing LLC raised its position in UWM by 366.1% in the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company's stock worth $1,528,000 after buying an additional 140,830 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.
A number of brokerages have recently issued reports on UWMC. Barclays raised shares of UWM from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. UBS Group lifted their target price on shares of UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on shares of UWM in a research note on Tuesday, November 5th. They set an "equal weight" rating and a $7.50 target price for the company. Finally, The Goldman Sachs Group dropped their price target on UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.53.
Get Our Latest Report on UWMC
In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company's stock, valued at $1,449,344. The trade was a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 94.11% of the company's stock.
Shares of UWM stock opened at $6.47 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $10.34 billion, a PE ratio of -28.13 and a beta of 1.65. UWM Holdings Co. has a 1-year low of $5.61 and a 1-year high of $9.74. The company's fifty day simple moving average is $6.77 and its 200-day simple moving average is $7.60.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend is Thursday, December 19th. UWM's dividend payout ratio is presently -173.91%.
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.
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