Renaissance Technologies LLC Sells 238,000 Shares of UWM Holdings Co. (NYSE:UWMC)

Renaissance Technologies LLC lessened its stake in UWM Holdings Co. (NYSE:UWMC - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,699,800 shares of the company's stock after selling 238,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.11% of UWM worth $9,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of UWM by 37.6% in the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after acquiring an additional 3,212,081 shares during the period. Tidal Investments LLC bought a new position in UWM during the third quarter worth about $3,833,000. EMG Holdings L.P. acquired a new position in UWM during the fourth quarter worth approximately $2,597,000. Trexquant Investment LP bought a new stake in UWM in the fourth quarter valued at approximately $2,450,000. Finally, Bryce Point Capital LLC acquired a new stake in shares of UWM in the fourth quarter valued at approximately $1,251,000. 53.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UWMC. UBS Group raised UWM from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Wedbush reiterated a "neutral" rating and issued a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $6.50 to $7.50 in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.21.

UWM Stock Performance

Shares of UWMC traded up $0.07 during midday trading on Tuesday, reaching $4.48. 2,783,927 shares of the stock were exchanged, compared to its average volume of 2,890,653. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock's 50 day simple moving average is $5.65 and its 200 day simple moving average is $6.05. UWM Holdings Co. has a twelve month low of $4.15 and a twelve month high of $9.74. The company has a market cap of $7.15 billion, a P/E ratio of -19.46 and a beta of 1.64.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million. On average, sell-side analysts expect that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 8.94%. UWM's dividend payout ratio is presently 500.00%.

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.