UWM Holdings Corporation $UWMC Shares Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its holdings in UWM Holdings Corporation by 81.5%, now owning approximately 979,578 shares valued at $5,348,000.
• UWM's quarterly earnings exceeded expectations, reporting $0.16 earnings per share against an anticipated $0.06, with revenues reaching $758.70 million.
• The company declared a quarterly dividend of $0.10, which is set to be paid on October 9, representing a 7.1% annual yield.

Cubist Systematic Strategies LLC lifted its holdings in UWM Holdings Corporation (NYSE:UWMC - Free Report) by 81.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 979,578 shares of the company's stock after acquiring an additional 439,928 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.06% of UWM worth $5,348,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after acquiring an additional 2,958 shares in the last quarter. Signaturefd LLC increased its position in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after acquiring an additional 4,693 shares in the last quarter. Quarry LP acquired a new stake in shares of UWM in the first quarter worth $53,000. Independent Advisor Alliance acquired a new stake in shares of UWM in the first quarter worth $58,000. Finally, SYM FINANCIAL Corp acquired a new stake in shares of UWM in the first quarter worth $64,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UWMC shares. The Goldman Sachs Group dropped their price objective 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 lowered shares of UWM from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Barclays raised shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target for the company in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.54.

Insiders Place Their Bets

In related news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $5.59, for a total value of $2,236,201.24. Following the sale, the chief executive officer directly owned 4,298,092 shares in the company, valued at $24,026,334.28. This trade represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 12,801,152 shares of company stock valued at $59,045,314. Company insiders own 94.11% of the company's stock.

UWM Trading Up 1.5%

UWM stock opened at $5.67 on Thursday. The company has a market cap of $9.06 billion, a P/E ratio of -113.30 and a beta of 1.76. The firm's 50-day moving average is $4.71 and its 200-day moving average is $4.87. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $9.43. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm had revenue of $758.70 million for 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, equities analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 7.1%. UWM's dividend payout ratio (DPR) is currently -800.00%.

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.

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