ClearAlpha Technologies LP Makes New $254,000 Investment in UWM Holdings Co. (NYSE:UWMC)

ClearAlpha Technologies LP bought a new stake in UWM Holdings Co. (NYSE:UWMC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 29,798 shares of the company’s stock, valued at approximately $254,000.

Several other large investors have also made changes to their positions in UWMC. Price T Rowe Associates Inc. MD boosted its position in UWM by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after buying an additional 3,207 shares in the last quarter. CWM LLC boosted its holdings in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after acquiring an additional 3,177 shares in the last quarter. SG Americas Securities LLC grew its position in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after acquiring an additional 226,819 shares during the last quarter. Wedmont Private Capital increased its holdings in UWM by 29.6% during the 2nd quarter. Wedmont Private Capital now owns 18,150 shares of the company’s stock valued at $139,000 after purchasing an additional 4,147 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in UWM during the 2nd quarter valued at $119,000. Institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,449,344. The trade was a 87.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 94.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on UWMC shares. UBS Group increased 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. Morgan Stanley started coverage on shares of UWM in a report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective on the stock. Wedbush boosted their target price on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, UWM has an average rating of “Hold” and a consensus target price of $7.53.

UWM Trading Up 0.8 %

Shares of NYSE:UWMC opened at $6.57 on Tuesday. The company has a 50 day moving average of $6.94 and a 200-day moving average of $7.63. UWM Holdings Co. has a one year low of $5.59 and a one year 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 Announces Dividend

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