Squarepoint Ops LLC Raises Holdings in UWM Holdings Co. (NYSE:UWMC)

Squarepoint Ops LLC lifted its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 24.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,322 shares of the company’s stock after buying an additional 67,383 shares during the period. Squarepoint Ops LLC’s holdings in UWM were worth $2,372,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. ORG Partners LLC acquired a new stake in shares of UWM in the 1st quarter worth approximately $29,000. Atlas Capital Advisors LLC grew its holdings in shares of UWM by 190.5% in 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 during the period. CWM LLC grew its holdings in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after acquiring an additional 3,177 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of UWM in the 2nd quarter worth approximately $52,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of UWM in the 1st quarter worth approximately $55,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Price Performance

UWMC stock opened at $7.86 on Friday. UWM Holdings Co. has a 52-week low of $4.49 and a 52-week high of $9.74. The stock’s fifty day simple moving average is $8.78 and its 200-day simple moving average is $7.64. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $751.24 million, a price-to-earnings ratio of 262.00 and a beta of 1.63.

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

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Thursday, September 19th. UWM’s dividend payout ratio (DPR) is currently 1,333.33%.

Analyst Ratings Changes

A number of research firms recently weighed in on UWMC. UBS Group upped their price target on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods increased their target price on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. BTIG Research increased their target price on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. The Goldman Sachs Group increased their target price on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays increased their target price on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, UWM presently has an average rating of “Hold” and an average price target of $7.39.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 94.11% of the company’s stock.

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.