Amalgamated Bank Reduces Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Amalgamated Bank reduced its holdings in shares of UWM Holdings Co. (NYSE:UWMC) by 66.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,851 shares of the company’s stock after selling 11,440 shares during the period. Amalgamated Bank’s holdings in UWM were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after acquiring an additional 199,900 shares during the period. Bank of New York Mellon Corp grew its stake in UWM by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock valued at $6,294,000 after acquiring an additional 37,190 shares in the last quarter. Squarepoint Ops LLC grew its holdings in UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after buying an additional 67,383 shares in the last quarter. AQR Capital Management LLC raised its stake in UWM by 203.7% during the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock worth $1,784,000 after purchasing an additional 173,652 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after acquiring an additional 226,819 shares during the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 5,000,000 shares of UWM stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $9.11, for a total value of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,562,547.20. This trade represents a 96.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 94.11% of the stock is currently owned by corporate insiders.

UWM Stock Up 1.5 %

UWM stock opened at $5.92 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM Holdings Co. has a one year low of $5.42 and a one year high of $9.74. The company has a 50-day simple moving average of $7.39 and a 200-day simple moving average of $7.68. The firm has a market capitalization of $9.45 billion, a P/E ratio of -25.72 and a beta of 1.67.

UWM Announces Dividend

The company 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 $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.76%. UWM’s dividend payout ratio (DPR) is -173.91%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. BTIG Research boosted their price target on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods boosted their target price on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. One 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, the stock currently has an average rating of “Hold” and a consensus price target of $7.53.

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.