Point72 DIFC Ltd Buys New Shares in UWM Holdings Co. (NYSE:UWMC)

Point72 DIFC Ltd purchased a new position in shares of UWM Holdings Co. (NYSE:UWMC) in the 3rd quarter, Holdings Channel reports. The firm purchased 56,037 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of UWM by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after buying an additional 3,207 shares during the period. Squarepoint Ops LLC raised its holdings in shares of UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock worth $2,372,000 after purchasing an additional 67,383 shares during the period. SG Americas Securities LLC lifted its stake in shares of UWM by 1,743.3% in the 2nd 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 grew its holdings in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the period. Finally, Inspire Investing LLC increased its position in UWM by 366.1% during the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock worth $1,528,000 after purchasing an additional 140,830 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Ratings Changes

UWMC has been the subject of several research reports. Morgan Stanley started coverage on shares of UWM in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective for the company. The Goldman Sachs Group decreased their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. UBS Group raised their price objective on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Finally, Barclays raised UWM from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. One research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.53.

UWM Price Performance

Shares of NYSE UWMC opened at $6.47 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM Holdings Co. has a fifty-two week low of $5.61 and a fifty-two week high of $9.74. The business has a 50 day moving average price of $6.77 and a two-hundred day moving average price of $7.60. The firm has a market cap of $10.34 billion, a PE ratio of -28.13 and a beta of 1.65.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.18%. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at $1,449,344. The trade was a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 94.11% of the stock is currently owned by corporate insiders.

UWM Company Profile

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.