UWM Holdings Co. (NYSE:UWMC) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 96.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,096 shares of the company’s stock after selling 87,247 shares during the quarter. Quest Partners LLC’s holdings in UWM were worth $26,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after acquiring an additional 226,819 shares during the last quarter. Carrera Capital Advisors acquired a new position in shares of UWM during the 3rd quarter worth $1,727,000. Renaissance Technologies LLC raised 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 valued at $11,870,000 after purchasing an additional 199,900 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of UWM by 203.7% in the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after purchasing an additional 173,652 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in UWM by 334.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock worth $1,557,000 after purchasing an additional 172,969 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Price Performance

UWMC opened at $6.51 on Monday. The stock has a market capitalization of $10.40 billion, a P/E ratio of -28.30 and a beta of 1.67. 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 company’s 50 day simple moving average is $6.94 and its 200-day simple moving average is $7.62. UWM Holdings Co. has a one year low of $5.42 and a one year high of $9.74.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.14%. UWM’s dividend payout ratio is currently -173.91%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UWMC. UBS Group boosted their price target on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. The Goldman Sachs Group reduced their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their price objective on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Wedbush upped their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley started coverage on UWM in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective for the company. 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 stock. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and an average target price of $7.53.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction on 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 directly owns 171,520 shares in the company, valued at approximately $1,449,344. This trade represents a 87.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 94.11% of the stock is owned by insiders.

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.