Y Intercept Hong Kong Ltd Invests $700,000 in UWM Holdings Corporation $UWMC

Y Intercept Hong Kong Ltd bought a new stake in shares of UWM Holdings Corporation (NYSE:UWMC) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 114,989 shares of the company’s stock, valued at approximately $700,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in UWM by 408.7% during 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 during the period. Raymond James Financial Inc. purchased a new stake in shares of UWM in the 2nd quarter worth about $35,000. R Squared Ltd bought a new stake in shares of UWM during the 2nd quarter valued at about $51,000. Focus Partners Wealth bought a new stake in shares of UWM during the 1st quarter valued at about $55,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of UWM by 79.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,467 shares of the company’s stock valued at $60,000 after purchasing an additional 6,395 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Trading Up 4.0%

UWMC stock opened at $5.11 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.45 and a current ratio of 1.45. The business has a fifty day moving average price of $5.28 and a 200-day moving average price of $5.41. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. UWM had a negative return on equity of 6.81% and a net margin of 0.61%. On average, equities research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Thursday, December 18th.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. UBS Group increased their target price on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Keefe, Bruyette & Woods lifted their price target on UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a research report on Thursday, December 18th. The Goldman Sachs Group set a $5.00 price objective on UWM in a report on Tuesday, January 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, UWM presently has an average rating of “Hold” and an average target price of $6.53.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $4.57, for a total value of $2,892,234.18. Following the transaction, the chief executive officer directly owned 2,245,619 shares of the company’s stock, valued at approximately $10,262,478.83. This trade represents a 21.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 20,456,463 shares of company stock valued at $108,030,210 over the last 90 days. 87.50% of the stock is currently owned by corporate insiders.

UWM Company Profile

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.