Renaissance Technologies LLC Acquires 13,800 Shares of UWM Holdings Co. (NYSE:UWMC)

Renaissance Technologies LLC lifted its holdings in shares of UWM Holdings Co. (NYSE:UWMC – Get Rating) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,522,900 shares of the company’s stock after acquiring an additional 13,800 shares during the quarter. Renaissance Technologies LLC’s holdings in UWM were worth $4,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in UWM by 46.6% in the 1st quarter. State Street Corp now owns 1,755,053 shares of the company’s stock worth $8,123,000 after purchasing an additional 558,245 shares in the last quarter. Vanguard Group Inc. boosted its position in UWM by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 8,332,640 shares of the company’s stock valued at $37,747,000 after acquiring an additional 401,658 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of UWM during the 2nd quarter worth approximately $1,410,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of UWM in the 3rd quarter worth approximately $1,124,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of UWM in the 2nd quarter valued at approximately $720,000. Hedge funds and other institutional investors own 37.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays raised their price objective on UWM from $2.50 to $3.00 in a research report on Monday, January 9th. The Goldman Sachs Group upped their price objective on shares of UWM from $3.30 to $3.75 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. UBS Group set a $4.00 price target on UWM in a research report on Wednesday, November 23rd. JMP Securities boosted their target price on UWM from $5.00 to $5.50 and gave the stock a “market outperform” rating in a report on Thursday, March 2nd. Finally, Keefe, Bruyette & Woods raised shares of UWM from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $3.50 to $4.00 in a research report on Thursday, March 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.91.

UWM Stock Performance

Shares of UWMC opened at $4.40 on Monday. The business has a 50-day simple moving average of $4.26 and a two-hundred day simple moving average of $3.89. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.88. UWM Holdings Co. has a 52 week low of $2.84 and a 52 week high of $5.03. The stock has a market cap of $409.64 million, a price-to-earnings ratio of 10.73 and a beta of 1.43.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 11th. Stockholders of record on Friday, March 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.40 annualized dividend and a dividend yield of 9.09%. UWM’s payout ratio is 97.56%.

UWM Profile

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UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.