UWM Holdings Corporation $UWMC Position Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in shares of UWM Holdings Corporation (NYSE:UWMC) by 28.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,537,500 shares of the company’s stock after selling 1,389,384 shares during the period. Renaissance Technologies LLC’s holdings in UWM were worth $12,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in UWMC. Brandes Investment Partners LP acquired a new stake in shares of UWM during the 4th quarter valued at $45,867,000. Azora Capital LP grew its holdings in shares of UWM by 230.8% in the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after acquiring an additional 7,881,586 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of UWM in the 4th quarter worth $19,303,000. Balyasny Asset Management L.P. raised its position 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 purchasing an additional 3,224,806 shares during the period. Finally, Two Sigma Investments LP raised its position 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 purchasing an additional 3,109,591 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Price Performance

Shares of NYSE:UWMC opened at $1.81 on Friday. The company’s fifty day moving average is $2.27 and its two-hundred day moving average is $3.52. The company has a market cap of $2.91 billion, a P/E 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. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13.

UWM (NYSE:UWMC) last issued its earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $901.43 million during the quarter, compared to analysts’ expectations of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. Equities analysts expect that UWM Holdings Corporation will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $3.39, for a total value of $3,401,298.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,009,999 shares of company stock worth $10,655,396 over the last quarter. 80.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $4.50 to $3.75 in a report on Thursday, June 25th. BTIG Research reissued a “buy” rating and issued a $4.00 price target on shares of UWM in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $5.50 price objective on shares of UWM in a report on Thursday, May 7th. Weiss Ratings lowered shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 15th. Finally, Barclays decreased their target price on shares of UWM from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.65.

UWM 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.