Allspring Global Investments Holdings LLC Buys 29,042 Shares of UWM Holdings Co. (NYSE:UWMC)

Allspring Global Investments Holdings LLC boosted its stake in UWM Holdings Co. (NYSE:UWMC) by 103.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,085 shares of the company’s stock after purchasing an additional 29,042 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UWM were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of UWM by 56.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company’s stock worth $3,541,000 after buying an additional 149,216 shares in the last quarter. Carrera Capital Advisors bought a new position in shares of UWM during the third quarter valued at approximately $1,727,000. Point72 Asset Management L.P. purchased a new position in shares of UWM during the 3rd quarter worth approximately $1,065,000. Geode Capital Management LLC boosted its stake in UWM by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after acquiring an additional 41,206 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in UWM by 446.3% in the 3rd quarter. Verition Fund Management LLC now owns 159,666 shares of the company’s stock worth $1,360,000 after purchasing an additional 130,439 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Up 2.1 %

UWMC opened at $6.58 on Wednesday. The firm’s 50 day simple moving average is $6.05 and its two-hundred day simple moving average is $7.01. The company has a market capitalization of $10.51 billion, a PE ratio of -28.59 and a beta of 1.66. UWM Holdings Co. has a 1-year low of $5.31 and a 1-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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UWMC. Morgan Stanley dropped their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Keefe, Bruyette & Woods cut their target price on shares of UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group dropped their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, UWM presently has an average rating of “Hold” and a consensus target price of $7.39.

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.