Tudor Investment Corp ET AL Invests $12.24 Million in UWM Holdings Corporation $UWMC

Key Points

• Tudor Investment Corp ET AL initiated a new stake in UWM, buying 2,009,295 shares worth about $12.24 million, equal to roughly 0.13% of the company at quarter-end.
• CEO Ishbia Mat sold 1,000,574 shares at an average of $3.70 (≈$3.7M), cutting their stake by 8.11%; insiders sold 22,825,868 shares (~$102.8M) over the last quarter but still own 87.5% of the stock.
• UWM declared a $0.10 quarterly dividend (annualized $0.40) implying a 10.7% yield with a very high payout ratio of 666.67%, while analysts’ consensus rating is “Hold” with a target price of $6.49.

Tudor Investment Corp ET AL purchased a new stake in UWM Holdings Corporation (NYSE:UWMC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,009,295 shares of the company's stock, valued at approximately $12,237,000. Tudor Investment Corp ET AL owned approximately 0.13% of UWM at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UWMC. Allworth Financial LP lifted its stake in UWM by 5,681.9% in the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company's stock valued at $25,000 after purchasing an additional 4,091 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock worth $33,000 after buying an additional 4,344 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of UWM during the second quarter worth $35,000. Advisory Services Network LLC acquired a new position in shares of UWM during the third quarter worth $38,000. Finally, Focus Partners Wealth acquired a new position in shares of UWM during the first quarter worth $55,000. 53.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BTIG Research reissued a "buy" rating and set a $10.00 price objective on shares of UWM in a report on Tuesday, March 10th. Jefferies Financial Group set a $4.40 target price on UWM in a report on Wednesday, February 25th. Argus raised UWM to a "hold" rating in a research note on Tuesday, March 31st. Morgan Stanley set a $6.00 price target on UWM in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group set a $5.00 price objective on UWM in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, UWM has an average rating of "Hold" and a consensus target price of $6.49.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,000,574 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $3.70, for a total value of $3,702,123.80. Following the sale, the chief executive officer directly owned 11,335,023 shares in the company, valued at $41,939,585.10. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 22,825,868 shares of company stock valued at $102,811,994 over the last quarter. 87.50% of the stock is owned by insiders.

UWM Stock Performance

Shares of UWM stock opened at $3.73 on Monday. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 62.08 and a beta of 1.93. UWM Holdings Corporation has a twelve month low of $3.38 and a twelve month high of $7.14. The company's fifty day moving average is $4.35 and its 200 day moving average is $5.06. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64.

UWM (NYSE:UWMC - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The company had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. Sell-side analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Thursday, March 19th. UWM's payout ratio is currently 666.67%.

UWM Profile

United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.

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