UWM Holdings Co. (NYSE:UWMC) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC increased its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,322 shares of the company’s stock after purchasing an additional 67,383 shares during the quarter. Squarepoint Ops LLC owned 0.36% of UWM worth $2,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UWMC. Parallel Advisors LLC grew its stake in UWM by 44.3% during the 4th quarter. Parallel Advisors LLC now owns 9,820 shares of the company’s stock worth $70,000 after purchasing an additional 3,014 shares in the last quarter. Azora Capital LP acquired a new position in UWM during the 4th quarter worth $6,705,000. Neo Ivy Capital Management acquired a new position in UWM during the 4th quarter worth $272,000. Quadrature Capital Ltd acquired a new position in UWM during the 4th quarter worth $174,000. Finally, Atlas Capital Advisors LLC boosted its position in shares of UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after acquiring an additional 3,309 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on UWMC. Keefe, Bruyette & Woods upped their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Barclays upped their price objective on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Wedbush upped their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, UBS Group upped their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus price target of $7.39.

Insider Buying and Selling at UWM

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,562,547.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 94.11% of the stock is owned by company insiders.

UWM Stock Down 2.6 %

UWM stock opened at $7.86 on Friday. UWM Holdings Co. has a fifty-two week low of $4.49 and a fifty-two week high of $9.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $751.24 million, a P/E ratio of 262.00 and a beta of 1.63. The stock has a 50-day simple moving average of $8.78 and a 200-day simple moving average of $7.64.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same period in the previous year, the company posted $0.11 earnings per share. Equities research analysts expect that UWM Holdings Co. will post 0.27 earnings per share for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.09%. The ex-dividend date is Thursday, September 19th. UWM’s dividend payout ratio is presently 1,333.33%.

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.