Fmr LLC Has $87.06 Million Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Fmr LLC boosted its stake in UWM Holdings Co. (NYSE:UWMC) by 24.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,218,728 shares of the company’s stock after purchasing an additional 2,010,985 shares during the period. Fmr LLC owned about 10.69% of UWM worth $87,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares during the last quarter. International Assets Investment Management LLC acquired a new position in UWM in the 2nd quarter worth about $52,000. Xponance Inc. acquired a new position in shares of UWM in the second quarter valued at approximately $76,000. Intech Investment Management LLC bought a new position in UWM in the 2nd quarter valued at approximately $85,000. Finally, McAdam LLC raised its holdings in UWM by 16.0% in the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after buying an additional 1,758 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

UWMC has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. UBS Group raised their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Finally, Morgan Stanley began coverage on UWM in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, UWM has a consensus rating of “Hold” and an average target price of $7.53.

UWM Stock Performance

Shares of UWMC opened at $6.27 on Friday. 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 firm’s fifty day simple moving average is $6.81 and its two-hundred day simple moving average is $7.61. UWM Holdings Co. has a 12 month low of $5.60 and a 12 month high of $9.74. The stock has a market capitalization of $10.02 billion, a P/E ratio of -27.26 and a beta of 1.65.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.38%. UWM’s dividend payout ratio is currently -173.91%.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total value 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 trade represents a 87.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 94.11% of the stock is currently owned by insiders.

UWM 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.