35,000 Shares in UWM Holdings Co. (NYSE:UWMC) Acquired by X Square Capital LLC

X Square Capital LLC acquired a new stake in UWM Holdings Co. (NYSE:UWMC) during the third quarter, HoldingsChannel.com reports. The fund acquired 35,000 shares of the company’s stock, valued at approximately $298,000.

A number of other large investors also recently modified their holdings of UWMC. SG Americas Securities LLC increased its position in shares of UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. AQR Capital Management LLC increased its position in shares of UWM by 203.7% in the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after purchasing an additional 173,652 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of UWM by 334.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock valued at $1,557,000 after purchasing an additional 172,969 shares during the last quarter. Finally, Inspire Investing LLC increased its position in shares of UWM by 366.1% in the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock valued at $1,528,000 after purchasing an additional 140,830 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Stock Down 2.4 %

Shares of NYSE:UWMC opened at $6.59 on Thursday. The stock has a market cap of $629.86 million, a P/E ratio of 219.67 and a beta of 1.63. The firm has a fifty day moving average price of $8.49 and a 200 day moving average price of $7.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. UWM Holdings Co. has a 1-year low of $4.77 and a 1-year high of $9.74.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same period in the prior year, the company posted $0.11 EPS. Sell-side analysts predict that UWM Holdings Co. will post 0.26 EPS for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.07%. The ex-dividend date was Thursday, September 19th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Analyst Upgrades and Downgrades

UWMC has been the topic of a number of recent analyst reports. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. Wedbush upped their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their target price on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. UBS Group upped their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Finally, BTIG Research upped their target price on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.68.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,449,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 94.11% of the company’s stock.

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.