AXQ Capital LP Buys New Stake in UWM Holdings Co. (NYSE:UWMC)

AXQ Capital LP bought a new stake in UWM Holdings Co. (NYSE:UWMC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 79,682 shares of the company's stock, valued at approximately $468,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of UWM by 56.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company's stock worth $3,541,000 after acquiring an additional 149,216 shares in the last quarter. Intech Investment Management LLC lifted its stake in UWM by 88.5% during the third quarter. Intech Investment Management LLC now owns 23,241 shares of the company's stock worth $198,000 after purchasing an additional 10,913 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of UWM by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 574,290 shares of the company's stock valued at $4,893,000 after purchasing an additional 7,846 shares in the last quarter. FMR LLC increased its stake in shares of UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company's stock valued at $87,064,000 after purchasing an additional 2,010,985 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of UWM by 123.0% in the 3rd quarter. Quantbot Technologies LP now owns 273,728 shares of the company's stock valued at $2,332,000 after purchasing an additional 150,981 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts have weighed in on UWMC shares. Morgan Stanley decreased their target price on shares of UWM from $7.50 to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upgraded UWM from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $6.50 to $7.50 in a report on Monday, March 3rd. Finally, Wedbush reaffirmed a "neutral" rating and issued a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.25.

UWM Trading Up 0.3 %

UWMC stock traded up $0.02 during trading on Thursday, reaching $5.68. The company had a trading volume of 2,897,129 shares, compared to its average volume of 2,545,864. UWM Holdings Co. has a 52 week low of $5.31 and a 52 week high of $9.74. The business has a 50 day moving average of $6.18 and a 200 day moving average of $6.57. 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 has a market cap of $9.07 billion, a P/E ratio of -24.67 and a beta of 1.64.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The firm had revenue of $560.21 million for the quarter, compared to analysts' expectations of $645.75 million. As a group, sell-side analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date is Thursday, March 20th. UWM's payout ratio is 500.00%.

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.