449,907 Shares in UWM Holdings Co. (NYSE:UWMC) Bought by Tidal Investments LLC

Tidal Investments LLC bought a new stake in UWM Holdings Co. (NYSE:UWMC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 449,907 shares of the company’s stock, valued at approximately $3,833,000.

Other large investors also recently bought and sold shares of the company. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of UWM in the 3rd quarter worth about $21,797,000. FMR LLC raised its position in UWM by 24.5% during the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after acquiring an additional 2,010,985 shares during the last quarter. Carrera Capital Advisors acquired a new position in UWM during the third quarter worth about $1,727,000. Renaissance Technologies LLC grew its position in shares of UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of UWM by 203.7% in the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after purchasing an additional 173,652 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Stock Down 3.7 %

UWMC opened at $6.02 on Friday. UWM Holdings Co. has a 12 month low of $5.67 and a 12 month high of $9.74. The business has a 50-day moving average of $6.55 and a two-hundred day moving average of $7.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of -26.17 and a beta of 1.65.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.64%. UWM’s payout ratio is -173.91%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the company’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 sale, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. This represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 94.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

UWMC has been the topic of a number of recent research reports. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Morgan Stanley began coverage on UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective for the company. UBS Group upped their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group lowered their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. 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. According to MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus target price of $7.41.

About UWM

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.