UWM Holdings Corporation $UWMC Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of UWM Holdings Corporation (NYSE:UWMC) by 28.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,537,500 shares of the company’s stock after selling 1,389,384 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of UWM worth $12,806,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in UWMC. Public Employees Retirement System of Ohio boosted its holdings in shares of UWM by 26.5% during the first quarter. Public Employees Retirement System of Ohio now owns 65,035 shares of the company’s stock valued at $235,000 after acquiring an additional 13,612 shares during the period. Cetera Investment Advisers boosted its stake in UWM by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 159,891 shares of the company’s stock valued at $579,000 after purchasing an additional 9,057 shares during the period. Signature Equity Partners LLC grew its position in UWM by 20.5% in the 1st quarter. Signature Equity Partners LLC now owns 925,864 shares of the company’s stock worth $3,352,000 after purchasing an additional 157,262 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of UWM by 164.5% in the first quarter. Dimensional Fund Advisors LP now owns 146,824 shares of the company’s stock valued at $532,000 after purchasing an additional 91,315 shares during the period. Finally, Spartan Wealth Advisory Services LLC acquired a new stake in shares of UWM in the first quarter valued at approximately $392,000. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Trading Down 2.4%

UWM stock opened at $1.81 on Friday. The firm has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $3.52. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $2.91 billion, a PE ratio of 6.72 and a beta of 1.76. UWM Holdings Corporation has a 12-month low of $1.72 and a 12-month high of $7.14.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 19.01%. The business had revenue of $901.43 million for the quarter, compared to analyst estimates of $709.85 million. As a group, equities research analysts expect that UWM Holdings Corporation will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on UWMC. Citizens Jmp raised UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price objective for the company in a report on Wednesday. BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of UWM in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $4.50 to $3.75 in a research report on Thursday, June 25th. Stephens began coverage on UWM in a research note on Friday, April 24th. They issued an “equal weight” rating and a $4.00 price target for the company. Finally, Citigroup raised UWM to an “outperform” rating in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.65.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction on Friday, May 8th. The stock was sold at an average price of $3.39, for a total transaction of $3,401,298.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,009,999 shares of company stock worth $10,655,396. Company insiders own 80.30% of the company’s stock.

UWM Company Profile

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.