Cwm LLC Purchases 7,772 Shares of UWM Holdings Co. (NYSE:UWMC)

Cwm LLC increased its stake in shares of UWM Holdings Co. (NYSE:UWMC) by 120.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,243 shares of the company’s stock after purchasing an additional 7,772 shares during the period. Cwm LLC’s holdings in UWM were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of UWM by 13.2% in the second 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of UWM by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after acquiring an additional 37,190 shares during the last quarter. Squarepoint Ops LLC increased its stake in 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 buying an additional 67,383 shares during the period. AQR Capital Management LLC increased its position in UWM by 203.7% during 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 period. Finally, SG Americas Securities LLC boosted its stake in UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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. Keefe, Bruyette & Woods boosted their price target 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. Wedbush increased their price target 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. The Goldman Sachs Group increased their price target on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and raised their price target for the company 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, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.68.

UWM Trading Down 0.9 %

UWM stock opened at $6.63 on Friday. The stock has a market cap of $633.68 million, a PE ratio of 221.00 and a beta of 1.63. The stock has a 50-day moving average price of $8.34 and a 200 day moving average price of $7.67. UWM Holdings Co. has a 52 week low of $4.77 and a 52 week high of $9.74. 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 (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter last year, the firm posted $0.11 earnings per share. Equities research analysts predict that UWM Holdings Co. will post 0.26 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.03%. The ex-dividend date was Thursday, September 19th. UWM’s dividend payout ratio (DPR) is currently 1,333.33%.

Insider Activity at UWM

In other UWM 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 transaction of $10,140,000.00. Following the sale, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,449,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 94.11% of the company’s stock.

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.