PDT Partners LLC Has $801,000 Holdings in UWM Holdings Corporation $UWMC

Key Points

• PDT Partners LLC increased its stake in UWM Holdings Corporation by 330.6% in the first quarter, acquiring an additional 112,632 shares, bringing its total holdings to 146,698 shares valued at around $801,000.
• CEO Ishbia Mat sold 400,036 shares, representing a 21.06% decrease in ownership, while insiders have sold a total of approximately 12.8 million shares in the past three months.
• Analysts have varied views on UWM, with Barclays upgrading its rating to "overweight" and a price target of $6.00, while Goldman Sachs lowered its price objective to $5.25, maintaining a "neutral" rating.

PDT Partners LLC boosted its holdings in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 330.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,698 shares of the company's stock after purchasing an additional 112,632 shares during the quarter. PDT Partners LLC's holdings in UWM were worth $801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of UWM by 13.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company's stock valued at $174,000 after buying an additional 3,524 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of UWM by 25.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,014 shares of the company's stock valued at $176,000 after buying an additional 6,181 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of UWM by 449.7% in the 4th quarter. Ameriprise Financial Inc. now owns 76,238 shares of the company's stock valued at $448,000 after buying an additional 62,370 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of UWM in the 4th quarter valued at approximately $2,110,000. Finally, Bayesian Capital Management LP acquired a new position in shares of UWM in the 4th quarter valued at approximately $147,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group dropped their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods cut shares of UWM from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, UWM currently has an average rating of "Hold" and a consensus target price of $5.54.

UWM Price Performance

NYSE:UWMC traded up $0.43 on Friday, hitting $6.33. The company had a trading volume of 11,349,684 shares, compared to its average volume of 9,458,890. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of -126.50 and a beta of 1.76. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average of $4.79 and a two-hundred day moving average of $4.86. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $9.25.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. The business had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is -800.00%.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Monday, July 14th. The shares were sold at an average price of $4.22, for a total transaction of $1,688,151.92. Following the transaction, the chief executive officer owned 1,499,352 shares in the company, valued at approximately $6,327,265.44. The trade was a 21.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 12,801,152 shares of company stock worth $59,045,314 in the last quarter. 87.50% of the stock is currently owned by insiders.

UWM 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.