Tidal Investments LLC Sells 158,065 Shares of UWM Holdings Co. (NYSE:UWMC)

Tidal Investments LLC lessened its position in UWM Holdings Co. (NYSE:UWMC) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 291,842 shares of the company’s stock after selling 158,065 shares during the period. Tidal Investments LLC’s holdings in UWM were worth $1,713,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Townsquare Capital LLC bought a new stake in UWM in the 4th quarter worth $72,000. Sanctuary Advisors LLC bought a new stake in UWM in the 4th quarter worth $77,000. HB Wealth Management LLC boosted its stake in shares of UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after purchasing an additional 2,631 shares in the last quarter. Sei Investments Co. bought a new stake in shares of UWM during the 4th quarter valued at about $82,000. Finally, Sherbrooke Park Advisers LLC boosted its stake in shares of UWM by 17.4% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock valued at $118,000 after purchasing an additional 2,975 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

UWM Trading Down 1.1%

NYSE:UWMC opened at $4.07 on Friday. UWM Holdings Co. has a one year low of $3.89 and a one year high of $9.74. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50-day simple moving average is $4.76 and its 200 day simple moving average is $5.65. The firm has a market capitalization of $6.50 billion, a P/E ratio of -17.67 and a beta of 1.75.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). The company had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. As a group, analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.84%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM’s payout ratio is currently -307.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UWMC shares. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on shares of UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and cut their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, UWM currently has an average rating of “Hold” and an average price target of $6.86.

UWM 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.