Aigen Investment Management LP Cuts Stock Holdings in UWM Holdings Co. (NYSE:UWMC)

Aigen Investment Management LP cut its stake in UWM Holdings Co. (NYSE:UWMC) by 37.5% in the third quarter, Holdings Channel.com reports. The firm owned 18,912 shares of the company’s stock after selling 11,358 shares during the quarter. Aigen Investment Management LP’s holdings in UWM were worth $161,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. CWM LLC grew its position in shares of UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after purchasing an additional 3,177 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of UWM in the second quarter valued at approximately $52,000. Xponance Inc. purchased a new stake in shares of UWM in the second quarter valued at approximately $76,000. Intech Investment Management LLC purchased a new stake in shares of UWM in the second quarter valued at approximately $85,000. Finally, McAdam LLC grew its position in shares of UWM by 16.0% in the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after purchasing an additional 1,758 shares in the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UWMC shares. UBS Group upped their price target on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday. BTIG Research upped their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley started coverage on UWM in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, UWM has an average rating of “Hold” and a consensus price target of $7.53.

UWM Stock Up 1.6 %

NYSE:UWMC opened at $5.83 on Monday. 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 fifty day moving average is $7.45 and its two-hundred day moving average is $7.68. UWM Holdings Co. has a 52 week low of $5.42 and a 52 week high of $9.74. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of -25.35 and a beta of 1.67.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is -173.91%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,449,344. This trade represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 94.11% of the stock is owned by insiders.

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.