Schonfeld Strategic Advisors LLC Sells 789,366 Shares of UWM Holdings Co. (NYSE:UWMC)

Schonfeld Strategic Advisors LLC lowered its position in UWM Holdings Co. (NYSE:UWMC - Free Report) by 80.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,002 shares of the company's stock after selling 789,366 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in UWM were worth $1,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of UWM in the 4th quarter worth approximately $77,000. Townsquare Capital LLC acquired a new stake in shares of UWM in the fourth quarter worth approximately $72,000. Sei Investments Co. acquired a new stake in shares of UWM during the 4th quarter worth $82,000. HB Wealth Management LLC increased its holdings in shares of UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock worth $82,000 after buying an additional 2,631 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of UWM during the 4th quarter worth $121,000. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Stock Down 4.2%

NYSE:UWMC traded down $0.18 on Tuesday, reaching $4.07. The stock had a trading volume of 4,041,278 shares, compared to its average volume of 3,042,497. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $5.10 and a 200 day moving average of $5.79. The stock has a market cap of $6.51 billion, a P/E ratio of -17.70 and a beta of 1.75. UWM Holdings Co. has a 12-month low of $4.01 and a 12-month high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analysts' expectations of $558.80 million. On average, research analysts predict 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 will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.83%. UWM's dividend payout ratio is presently -307.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on UWMC shares. Wedbush reaffirmed a "neutral" rating and set a $6.50 price target on shares of UWM in a research report on Monday, March 3rd. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and reduced their price target for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.86.

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.