GSA Capital Partners LLP Trims Stock Position in UWM Holdings Corporation $UWMC

GSA Capital Partners LLP cut its holdings in shares of UWM Holdings Corporation (NYSE:UWMC) by 51.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,626 shares of the company’s stock after selling 195,994 shares during the period. GSA Capital Partners LLP’s holdings in UWM were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. 683 Capital Management LLC purchased a new position in shares of UWM during the 2nd quarter valued at about $19,872,000. Balyasny Asset Management L.P. grew its holdings in 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 acquiring an additional 3,224,806 shares during the period. Azora Capital LP purchased a new position in UWM during the second quarter valued at approximately $9,032,000. Bank of America Corp DE raised its position in UWM by 93.8% during 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 in the last quarter. Finally, First Trust Advisors LP acquired a new position in UWM in the second quarter valued at approximately $4,992,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Trading Down 0.5%

Shares of NYSE UWMC opened at $4.78 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $7.14. The company has a 50-day moving average of $5.06 and a 200 day moving average of $5.45.

Wall Street Analyst Weigh In

UWMC has been the subject of several recent research reports. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a report on Tuesday, January 6th. Morgan Stanley set a $6.00 price objective on shares of UWM in a research report on Tuesday, December 16th. Jefferies Financial Group assumed coverage on shares of UWM in a research note on Friday, December 19th. They set a “hold” rating and a $5.00 target price on the stock. Wall Street Zen cut UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods lifted their price target on UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.53.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.88, for a total transaction of $3,088,425.12. Following the transaction, the chief executive officer owned 7,127,903 shares in the company, valued at approximately $34,784,166.64. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 20,079,215 shares of company stock valued at $104,544,269 over the last ninety days. 87.50% of the stock is currently owned by company insiders.

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.