Renaissance Technologies LLC Cuts Holdings in UWM Holdings Co. (NYSE:UWMC)

Renaissance Technologies LLC reduced its stake in UWM Holdings Co. (NYSE:UWMC - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,699,800 shares of the company's stock after selling 238,000 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of UWM worth $9,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UWMC. Sanctuary Advisors LLC purchased a new stake in shares of UWM in the fourth quarter worth about $77,000. HB Wealth Management LLC boosted its position in shares of UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock valued at $82,000 after acquiring an additional 2,631 shares during the last quarter. Sei Investments Co. purchased a new position in shares of UWM in the fourth quarter valued at $82,000. Orion Portfolio Solutions LLC bought a new stake in UWM in the third quarter worth $85,000. Finally, Quantinno Capital Management LP purchased a new stake in UWM during the third quarter valued at $106,000. Institutional investors own 53.59% of the company's stock.

UWM Trading Down 3.3 %

Shares of UWMC stock traded down $0.15 on Monday, reaching $4.38. 1,989,020 shares of the company's stock were exchanged, compared to its average volume of 2,880,677. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The company's fifty day simple moving average is $5.72 and its 200 day simple moving average is $6.09. UWM Holdings Co. has a 52 week low of $4.15 and a 52 week high of $9.74. The stock has a market capitalization of $7.00 billion, a PE ratio of -19.04 and a beta of 1.64.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. As a group, analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 9.13%. UWM's payout ratio is currently 500.00%.

Analyst Ratings Changes

A number of brokerages have commented on UWMC. Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Wedbush reissued a "neutral" rating and set a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Finally, UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $7.21.

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.