Point72 Asset Management L.P. Makes New Investment in UWM Holdings Co. (NYSE:UWMC)

Point72 Asset Management L.P. purchased a new position in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 125,004 shares of the company's stock, valued at approximately $1,065,000. Point72 Asset Management L.P. owned 0.13% of UWM as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC increased its position in shares of UWM by 24.5% during the third quarter. FMR LLC now owns 10,218,728 shares of the company's stock worth $87,064,000 after acquiring an additional 2,010,985 shares in the last quarter. SG Americas Securities LLC increased its position in shares of UWM by 1,743.3% during the second 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 last quarter. Carrera Capital Advisors bought a new position in UWM in the 3rd quarter valued at $1,727,000. Renaissance Technologies LLC boosted 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 buying an additional 199,900 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of UWM by 203.7% in the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company's stock worth $1,784,000 after purchasing an additional 173,652 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UWMC. Barclays raised UWM from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group dropped their price target on shares of UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Keefe, Bruyette & Woods cut their price target on UWM from $9.00 to $7.00 and set a "market perform" rating for the company in a report on Tuesday. UBS Group raised their target price on UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a research note on Thursday, September 5th. Finally, Morgan Stanley assumed coverage on shares of UWM in a report on Tuesday, November 5th. They issued an "equal weight" rating and a $7.50 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.41.

UWM Stock Up 2.6 %

Shares of NYSE:UWMC traded up $0.16 on Wednesday, hitting $6.29. 1,326,080 shares of the company traded hands, compared to its average volume of 2,020,225. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a market cap of $10.05 billion, a PE ratio of -26.61 and a beta of 1.65. UWM Holdings Co. has a 52 week low of $5.67 and a 52 week high of $9.74. The stock has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $7.59.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Thursday, December 19th. UWM's dividend payout ratio is currently -173.91%.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction on 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 transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,449,344. This trade represents a 87.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 94.11% of the stock is currently owned by corporate 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.