Carrera Capital Advisors Invests $1.73 Million in UWM Holdings Co. (NYSE:UWMC)

Carrera Capital Advisors bought a new position in UWM Holdings Co. (NYSE:UWMC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 200,369 shares of the company’s stock, valued at approximately $1,727,000.

Several other large investors have also recently made changes to their positions in UWMC. SG Americas Securities LLC increased its holdings in shares of UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of UWM by 203.7% in 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 last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of UWM by 334.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock worth $1,557,000 after purchasing an additional 172,969 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in UWM by 366.1% during the third quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock worth $1,528,000 after acquiring an additional 140,830 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

UWM Trading Down 1.6 %

Shares of NYSE:UWMC traded down $0.10 during trading hours on Tuesday, hitting $6.09. 676,918 shares of the company’s stock traded hands, compared to its average volume of 1,931,725. UWM Holdings Co. has a 1 year low of $5.35 and a 1 year high of $9.74. The business has a fifty day moving average price of $7.70 and a 200-day moving average price of $7.70. The firm has a market capitalization of $582.28 million, a P/E ratio of -26.91 and a beta of 1.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.57%. UWM’s dividend payout ratio (DPR) is currently -173.91%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on UWMC. Keefe, Bruyette & Woods boosted their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. Morgan Stanley began coverage on UWM in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price objective on the stock. UBS Group boosted their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. Finally, Wedbush boosted their price objective on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.66.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 94.11% of the stock is owned by insiders.

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.