Connor Clark & Lunn Investment Management Ltd. Has $3.54 Million Holdings in UWM Holdings Co. (NYSE:UWMC)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 56.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 415,656 shares of the company’s stock after acquiring an additional 149,216 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.43% of UWM worth $3,541,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of UWMC. Price T Rowe Associates Inc. MD increased its holdings in shares of UWM by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after purchasing an additional 3,207 shares during the period. Squarepoint Ops LLC increased its stake in UWM by 24.5% in the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after acquiring an additional 67,383 shares during the last quarter. Quadrature Capital Ltd increased its stake in UWM by 124.3% in the first quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after acquiring an additional 30,361 shares during the last quarter. SG Americas Securities LLC increased its stake in UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after acquiring an additional 226,819 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after acquiring an additional 199,900 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

UWM Price Performance

Shares of NYSE:UWMC opened at $6.15 on Monday. The firm has a market cap of $9.83 billion, a PE ratio of -26.74 and a beta of 1.67. The firm’s fifty day moving average is $7.17 and its 200-day moving average is $7.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM Holdings Co. has a 52 week low of $5.42 and a 52 week high of $9.74.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. 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 6.50%. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the sale, the chief executive officer now owns 171,520 shares in the company, valued at $1,449,344. This represents a 87.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 94.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on UWMC shares. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. UBS Group lifted their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Wedbush boosted their target price on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods boosted their target price on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and an average target price of $7.53.

UWM 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.