Quest Partners LLC Has $26,000 Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Quest Partners LLC decreased its stake in UWM Holdings Co. (NYSE:UWMC - Free Report) by 96.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,096 shares of the company's stock after selling 87,247 shares during the period. Quest Partners LLC's holdings in UWM were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC boosted its stake in UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company's stock worth $45,000 after buying an additional 3,177 shares in the last quarter. International Assets Investment Management LLC bought a new stake in UWM in the second quarter valued at about $52,000. Xponance Inc. acquired a new position in UWM in the second quarter worth about $76,000. Intech Investment Management LLC bought a new position in UWM during the second quarter worth about $85,000. Finally, McAdam LLC boosted its holdings in UWM by 16.0% during the second quarter. McAdam LLC now owns 12,721 shares of the company's stock valued at $88,000 after purchasing an additional 1,758 shares in the last quarter. Institutional investors own 53.59% of the company's stock.

UWM Stock Up 0.8 %

Shares of UWMC stock traded up $0.06 during trading on Monday, reaching $6.57. The company's stock had a trading volume of 2,636,924 shares, compared to its average volume of 2,012,311. UWM Holdings Co. has a one year low of $5.59 and a one year high of $9.74. The business has a fifty day moving average price of $6.94 and a 200-day moving average price of $7.63. The company has a market cap of $10.49 billion, a price-to-earnings ratio of -28.57 and a beta of 1.67. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.09%. UWM's dividend payout ratio is -173.91%.

Wall Street Analyst Weigh In

Several brokerages recently commented on UWMC. Barclays raised UWM from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. BTIG Research raised their price objective on shares of UWM from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 6th. UBS Group boosted their target price on UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a report on Thursday, September 5th. Wedbush increased their target price on UWM from $7.00 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Finally, Morgan Stanley began coverage on shares of UWM in a research note on Tuesday, November 5th. They issued an "equal weight" rating and a $7.50 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, UWM has an average rating of "Hold" and a consensus price target of $7.53.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of the business'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 transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. The trade was a 87.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 94.11% of the stock is 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.