683 Capital Management LLC Invests $19.87 Million in UWM Holdings Corporation $UWMC

683 Capital Management LLC acquired a new stake in UWM Holdings Corporation (NYSE:UWMC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 4,800,000 shares of the company’s stock, valued at approximately $19,872,000. UWM accounts for about 1.3% of 683 Capital Management LLC’s holdings, making the stock its 12th biggest holding.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after buying an additional 2,296,205 shares during the last quarter. Azora Capital LP bought a new stake in shares of UWM during the 2nd quarter worth about $9,032,000. First Trust Advisors LP acquired a new position in shares of UWM during the 2nd quarter valued at about $4,992,000. Geode Capital Management LLC raised its stake in shares of UWM by 47.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock valued at $9,997,000 after acquiring an additional 777,264 shares in the last quarter. Finally, AGF Management Ltd. acquired a new stake in UWM in the 2nd quarter worth approximately $3,072,000. 53.59% of the stock is currently owned by institutional investors.

UWM Stock Performance

NYSE UWMC opened at $5.38 on Friday. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14. The firm has a 50-day simple moving average of $5.49 and a 200 day simple moving average of $5.16. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The firm had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. As a group, research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Thursday, December 18th.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 612,287 shares of UWM stock in a transaction on Monday, December 1st. The shares were sold at an average price of $5.80, for a total transaction of $3,551,264.60. Following the sale, the chief executive officer owned 9,241,556 shares in the company, valued at $53,601,024.80. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 21,985,544 shares of company stock valued at $125,849,275 over the last three months. 87.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on UWMC shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. UBS Group upped their price target on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.50 to $6.50 in a research note on Monday, September 29th. Wall Street Zen cut UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th. Finally, Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.54.

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.