449,907 Shares in UWM Holdings Co. (NYSE:UWMC) Purchased by Tidal Investments LLC

Tidal Investments LLC acquired a new position in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 449,907 shares of the company's stock, valued at approximately $3,833,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC boosted its stake in shares of UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company's stock valued at $45,000 after purchasing an additional 3,177 shares during the period. Blue Trust Inc. purchased a new stake in UWM in the second quarter valued at approximately $119,000. McAdam LLC boosted its position in UWM by 16.0% in the second quarter. McAdam LLC now owns 12,721 shares of the company's stock valued at $88,000 after buying an additional 1,758 shares during the last quarter. Bank of New York Mellon Corp boosted its position in UWM by 4.3% in 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 last quarter. Finally, International Assets Investment Management LLC purchased a new stake in UWM in the 2nd quarter worth approximately $52,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 171,520 shares of the company's stock, valued at $1,449,344. This represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 94.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

UWMC has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Keefe, Bruyette & Woods cut their target price on UWM from $9.00 to $7.00 and set a "market perform" rating for the company in a research note on Tuesday, December 10th. UBS Group increased their price target on UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a report on Thursday, September 5th. Morgan Stanley started coverage on UWM in a report on Tuesday, November 5th. They set an "equal weight" rating and a $7.50 target price for the company. Finally, Barclays raised UWM from an "underweight" rating to an "equal weight" rating and lifted their target price 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, six have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $7.41.

UWM Stock Down 3.7 %

UWMC stock traded down $0.23 during trading on Friday, hitting $6.02. 4,346,730 shares of the company's stock were exchanged, compared to its average volume of 2,038,054. The business has a 50-day moving average price of $6.55 and a two-hundred day moving average price of $7.56. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of -26.17 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 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date is Thursday, December 19th. UWM's dividend payout ratio is currently -173.91%.

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.