SG Americas Securities LLC Lowers Stake in UWM Holdings Co. (NYSE:UWMC)

SG Americas Securities LLC lessened its holdings in UWM Holdings Co. (NYSE:UWMC) by 92.0% during the third quarter, HoldingsChannel.com reports. The fund owned 19,301 shares of the company’s stock after selling 220,529 shares during the quarter. SG Americas Securities LLC’s holdings in UWM were worth $164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in UWM during the 4th quarter worth $174,000. Atlas Capital Advisors LLC boosted its holdings 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 buying an additional 3,309 shares during the period. ORG Partners LLC bought a new position in shares of UWM in the first quarter worth about $29,000. Quantbot Technologies LP grew its holdings in UWM by 134.8% in the 1st quarter. Quantbot Technologies LP now owns 115,250 shares of the company’s stock valued at $837,000 after buying an additional 66,174 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in UWM during the first quarter worth $375,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Up 1.5 %

UWM stock opened at $6.69 on Friday. The company has a market cap of $639.42 million, a P/E ratio of 223.00 and a beta of 1.63. The company has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $7.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. UWM Holdings Co. has a 1-year low of $4.77 and a 1-year high of $9.74.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same quarter last year, the firm posted $0.11 EPS. Research analysts anticipate that UWM Holdings Co. will post 0.26 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.98%. The ex-dividend date was Thursday, September 19th. UWM’s payout ratio is 1,333.33%.

Wall Street Analyst Weigh In

UWMC has been the topic of several research reports. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. BTIG Research lifted their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. UBS Group raised their price target on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Wedbush boosted their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group increased their price objective on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, UWM presently has an average rating of “Hold” and a consensus target price of $7.68.

Insider Activity

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,562,547.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 94.11% of the stock is owned by company 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.