Quantbot Technologies LP Cuts Position in UWM Holdings Corporation $UWMC

Quantbot Technologies LP reduced its stake in shares of UWM Holdings Corporation (NYSE:UWMC) by 79.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 160,693 shares of the company’s stock after selling 606,474 shares during the period. Quantbot Technologies LP’s holdings in UWM were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in UWMC. GAMMA Investing LLC increased its holdings in shares of UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in UWM during the second quarter worth about $35,000. Focus Partners Wealth purchased a new stake in UWM during the first quarter worth about $55,000. PNC Financial Services Group Inc. grew its position in UWM by 79.2% during the second quarter. PNC Financial Services Group Inc. now owns 14,467 shares of the company’s stock worth $60,000 after buying an additional 6,395 shares during the period. Finally, Moment Partners LLC purchased a new position in UWM in the third quarter valued at about $61,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group boosted their price target on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Barclays dropped their price objective on UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Weiss Ratings raised UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Morgan Stanley set a $6.00 target price on UWM in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group set a $5.00 price target on UWM in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.20.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $4.70, for a total value of $2,974,507.80. Following the transaction, the chief executive officer directly owned 3,782,627 shares in the company, valued at approximately $17,778,346.90. This represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 19,776,939 shares of company stock valued at $98,549,815. Insiders own 87.50% of the company’s stock.

UWM Trading Down 4.5%

Shares of UWM stock opened at $3.85 on Friday. UWM Holdings Corporation has a 1 year low of $3.79 and a 1 year high of $7.14. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The business has a 50 day moving average price of $4.94 and a 200 day moving average price of $5.41. The company has a market capitalization of $6.16 billion, a P/E ratio of 64.17 and a beta of 1.90.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The company had revenue of $945.25 million for the quarter, compared to analysts’ expectations of $759.12 million. Sell-side analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.4%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio (DPR) is currently 666.67%.

About UWM

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.