FORA Capital LLC Acquires Shares of 21,493 UWM Holdings Co. (NYSE:UWMC)

FORA Capital LLC bought a new position in UWM Holdings Co. (NYSE:UWMC) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 21,493 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds have also recently made changes to their positions in UWMC. FMR LLC lifted its position in UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after buying an additional 2,010,985 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares during the period. Carrera Capital Advisors bought a new position in UWM during the 3rd quarter valued at about $1,727,000. Renaissance Technologies LLC raised its position in UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the period. Finally, AQR Capital Management LLC lifted its stake in UWM by 203.7% in the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock worth $1,784,000 after purchasing an additional 173,652 shares during the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

UWM Stock Down 0.8 %

Shares of UWM stock opened at $6.51 on Friday. UWM Holdings Co. has a 1 year low of $5.42 and a 1 year high of $9.74. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of -28.30 and a beta of 1.67. The firm’s 50-day moving average is $6.94 and its two-hundred day moving average is $7.62.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.14%. The ex-dividend date is Thursday, December 19th. UWM’s payout ratio is -173.91%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,449,344. The trade was a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 94.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UWMC shares. BTIG Research upped their target price on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Morgan Stanley began coverage on UWM in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 target price on the stock. UBS Group boosted their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.53.

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.