UWM Holdings Co. (NYSE:UWMC) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in UWM Holdings Co. (NYSE:UWMC - Free Report) by 203.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258,883 shares of the company's stock after buying an additional 173,652 shares during the quarter. AQR Capital Management LLC owned approximately 0.27% of UWM worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of UWMC. Renaissance Technologies LLC lifted its holdings in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company's stock worth $11,870,000 after acquiring an additional 199,900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of UWM by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company's stock valued at $6,294,000 after buying an additional 37,190 shares during the period. Squarepoint Ops LLC grew its stake in shares of 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 buying an additional 67,383 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of UWM by 3.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company's stock worth $2,085,000 after buying an additional 9,555 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company's stock valued at $1,662,000 after acquiring an additional 226,819 shares during the period. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

UWMC has been the subject of several research analyst reports. Barclays upgraded UWM from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $6.00 to $8.00 in a research report on Tuesday. Wedbush lifted 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 raised their price objective on UWM from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods upped their target price on UWM from $7.00 to $8.00 and gave the stock a "market perform" rating in a report on Wednesday, August 7th. Finally, BTIG Research increased their price target on UWM from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.68.

Insider Activity at UWM

In related 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 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 94.11% of the stock is owned by corporate insiders.

UWM Stock Performance

UWM stock traded down $0.07 during trading hours on Thursday, hitting $7.26. 2,067,978 shares of the stock traded hands, compared to its average volume of 1,803,811. The firm's 50 day moving average price is $8.71 and its 200-day moving average price is $7.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $693.90 million, a price-to-earnings ratio of 244.17 and a beta of 1.63. UWM Holdings Co. has a 1 year low of $4.77 and a 1 year high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, equities analysts expect that UWM Holdings Co. will post 0.27 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.51%. UWM's dividend payout ratio (DPR) is 1,333.33%.

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.