UWM (NYSE:UWMC) Trading Up 7% – Here’s Why

UWM Holdings Co. (NYSE:UWMC)’s stock price shot up 7% during trading on Tuesday . The stock traded as high as $5.85 and last traded at $5.81. 2,390,487 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 4,723,378 shares. The stock had previously closed at $5.43.

Analyst Ratings Changes

UWMC has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group lowered their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods cut their price target on UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Finally, Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus target price of $7.39.

UWM Stock Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $9.19 billion, a PE ratio of -25.00 and a beta of 1.66. The firm has a fifty day moving average price of $6.04 and a 200 day moving average price of $7.34.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date was Thursday, December 19th. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UWMC. 180 Wealth Advisors LLC lifted its position in UWM by 34.6% during the fourth quarter. 180 Wealth Advisors LLC now owns 61,784 shares of the company’s stock valued at $363,000 after purchasing an additional 15,878 shares during the period. Wedmont Private Capital lifted its holdings in shares of UWM by 103.1% in the 4th quarter. Wedmont Private Capital now owns 40,857 shares of the company’s stock valued at $223,000 after buying an additional 20,744 shares during the period. Tidal Investments LLC acquired a new stake in UWM during the third quarter worth about $3,833,000. Wilmington Savings Fund Society FSB acquired a new stake in UWM during the third quarter worth about $239,000. Finally, Barclays PLC lifted its holdings in UWM by 485.7% in the third quarter. Barclays PLC now owns 26,022 shares of the company’s stock valued at $221,000 after acquiring an additional 21,579 shares during the period. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

About UWM

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.