UWM Holdings Corporation $UWMC Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP has significantly reduced its position in UWM Holdings Corporation by 58.3%, selling over 243,000 shares and now holding 174,270 shares valued at approximately $952,000.
• UWM Holdings recently announced a quarterly dividend of $0.10 per share, equating to an annual yield of 6.3%.
• Despite recent downgrades from analysts, UWM Holdings has a consensus rating of "Hold" with a target price of $5.54, following various changes in investor positions.

Trexquant Investment LP trimmed its holdings in shares of UWM Holdings Corporation (NYSE:UWMC - Free Report) by 58.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,270 shares of the company's stock after selling 243,162 shares during the quarter. Trexquant Investment LP's holdings in UWM were worth $952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UWMC. GAMMA Investing LLC increased its position in shares of UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after purchasing an additional 2,958 shares during the last quarter. Signaturefd LLC increased its position in shares of UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after purchasing an additional 4,693 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of UWM during the 1st quarter worth about $58,000. SYM FINANCIAL Corp acquired a new stake in shares of UWM during the 1st quarter worth about $64,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of UWM during the 1st quarter worth about $65,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other UWM 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 value of $1,688,151.92. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 13,601,224 shares of company stock valued at $63,945,755 in the last quarter. Insiders own 87.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on UWMC. Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a research report on Tuesday, July 8th. Wall Street Zen raised UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group decreased their target price on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, UWM presently has an average rating of "Hold" and an average price target of $5.54.

UWM Stock Up 6.5%

UWM stock traded up $0.42 during midday trading on Wednesday, reaching $6.82. The company's stock had a trading volume of 11,119,229 shares, compared to its average volume of 6,016,523. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $9.25. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a market cap of $10.90 billion, a P/E ratio of -136.30 and a beta of 1.76. The business has a 50-day simple moving average of $4.87 and a 200-day simple moving average of $4.86.

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

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 5.9%. UWM's payout ratio is currently -800.00%.

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.