Fmr LLC Has $87.06 Million Position in UWM Holdings Co. (NYSE:UWMC)

FMR LLC lifted its holdings in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 24.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,218,728 shares of the company's stock after acquiring an additional 2,010,985 shares during the quarter. FMR LLC owned about 10.69% of UWM worth $87,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in UWM by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company's stock valued at $421,000 after buying an additional 3,207 shares during the last quarter. Squarepoint Ops LLC increased its stake in UWM by 24.5% during the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company's stock valued at $2,372,000 after purchasing an additional 67,383 shares during the last quarter. SG Americas Securities LLC raised its stake in UWM by 1,743.3% during 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 period. Renaissance Technologies LLC boosted its stake in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company's stock valued at $11,870,000 after acquiring an additional 199,900 shares during the period. Finally, Inspire Investing LLC boosted its stake in UWM by 366.1% in the third quarter. Inspire Investing LLC now owns 179,298 shares of the company's stock valued at $1,528,000 after acquiring an additional 140,830 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,200,000 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,520 shares of the company's stock, valued at approximately $1,449,344. This trade represents a 87.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 94.11% of the company's stock.

UWM Stock Performance

UWMC traded up $0.20 during midday trading on Friday, reaching $6.47. The company's stock had a trading volume of 2,634,078 shares, compared to its average volume of 2,019,911. UWM Holdings Co. has a twelve month low of $5.61 and a twelve month high of $9.74. The stock has a market cap of $10.34 billion, a P/E ratio of -27.26 and a beta of 1.65. The company has a fifty day simple moving average of $6.77 and a 200 day simple moving average of $7.60. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Thursday, December 19th. UWM's dividend payout ratio (DPR) is presently -173.91%.

Wall Street Analyst Weigh In

Several research analysts have commented on UWMC shares. UBS Group upped their target price on shares of UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a research report on Thursday, September 5th. Morgan Stanley initiated coverage on UWM in a report on Tuesday, November 5th. They issued an "equal weight" rating and a $7.50 target price on the stock. Barclays raised UWM from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group decreased their target price on shares of UWM from $8.50 to $7.50 and set a "neutral" rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $7.53.

UWM Company 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.