Point72 Asset Management L.P. Has $696,000 Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Point72 Asset Management L.P. lessened its position in UWM Holdings Co. (NYSE:UWMC) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,515 shares of the company’s stock after selling 6,489 shares during the quarter. Point72 Asset Management L.P.’s holdings in UWM were worth $696,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of UWMC. Vanguard Group Inc. grew its stake in UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after purchasing an additional 3,212,081 shares in the last quarter. First Trust Advisors LP grew its stake in UWM by 886.9% in the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock valued at $21,880,000 after purchasing an additional 3,349,779 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in UWM in the fourth quarter valued at approximately $6,602,000. Bank of New York Mellon Corp grew its stake in UWM by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company’s stock valued at $6,386,000 after purchasing an additional 147,459 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in UWM by 51.0% in the fourth quarter. Bank of Nova Scotia now owns 621,392 shares of the company’s stock valued at $3,648,000 after purchasing an additional 209,903 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

UWMC has been the subject of a number of analyst reports. UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and decreased their price target for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Wedbush restated a “neutral” rating and issued a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods decreased their price target on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.86.

UWM Stock Performance

Shares of NYSE UWMC opened at $4.12 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. UWM Holdings Co. has a 12 month low of $3.89 and a 12 month high of $9.74. The stock has a 50 day moving average of $4.80 and a 200-day moving average of $5.67. The company has a market capitalization of $6.59 billion, a P/E ratio of -17.91 and a beta of 1.75.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. As a group, equities research analysts predict that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.71%. UWM’s dividend payout ratio (DPR) is presently -307.69%.

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.