Alight Capital Management LP Invests $3.96 Million in UWM Holdings Corporation $UWMC

Alight Capital Management LP bought a new stake in UWM Holdings Corporation (NYSE:UWMC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 650,000 shares of the company’s stock, valued at approximately $3,958,000.

Several other hedge funds have also added to or reduced their stakes in UWMC. Vanguard Group Inc. grew its holdings in UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after buying an additional 1,010,907 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after buying an additional 3,224,806 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of UWM by 165.5% during the third quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock worth $30,382,000 after buying an additional 3,109,591 shares in the last quarter. 683 Capital Management LLC bought a new stake in shares of UWM in the second quarter valued at about $19,872,000. Finally, Bank of America Corp DE boosted its position in shares of UWM by 93.8% in the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after acquiring an additional 1,819,129 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on UWMC shares. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Tuesday, March 10th. Weiss Ratings raised shares of UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lowered their target price on shares of UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Finally, Morgan Stanley set a $6.00 price target on shares of UWM in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.49.

UWM Stock Performance

Shares of UWM stock opened at $3.66 on Friday. The company has a 50 day moving average of $4.88 and a 200-day moving average of $5.34. UWM Holdings Corporation has a 1-year low of $3.62 and a 1-year high of $7.14. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. The company has a market cap of $5.85 billion, a PE ratio of 60.92 and a beta of 1.90.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $945.25 million during the quarter, compared to the consensus estimate of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. As a group, equities research analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 10.9%. UWM’s dividend payout ratio (DPR) is presently 666.67%.

Insider Activity

In other news, CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $5.46, for a total value of $3,455,492.04. Following the transaction, the chief executive officer owned 1,251,131 shares in the company, valued at approximately $6,831,175.26. This trade represents a 33.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 19,205,826 shares of company stock valued at $93,166,931. Company insiders own 87.50% of the company’s stock.

About UWM

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.