UWM (NYSE:UWMC) Sees Strong Trading Volume - Still a Buy?

UWM Holdings Co. (NYSE:UWMC - Get Free Report) saw strong trading volume on Tuesday . 7,329,863 shares were traded during trading, an increase of 112% from the previous session's volume of 3,450,112 shares.The stock last traded at $4.00 and had previously closed at $4.10.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wedbush reiterated 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 lowered their target price on UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and lowered their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.86.

UWM Stock Performance

The company has a 50-day moving average of $4.34 and a 200 day moving average of $5.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $6.36 billion, a PE ratio of -17.28 and a beta of 1.70.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share 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 the consensus estimate of $558.80 million. Equities research analysts predict that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.06%. The ex-dividend date is Wednesday, June 18th. UWM's payout ratio is currently -307.69%.

Institutional Investors Weigh In On UWM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after purchasing an additional 2,958 shares during the last quarter. Signaturefd LLC grew its holdings in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after purchasing an additional 4,693 shares during the last quarter. Quarry LP bought a new position in shares of UWM in the first quarter worth approximately $53,000. Focus Partners Wealth bought a new position in shares of UWM in the first quarter worth approximately $55,000. Finally, Independent Advisor Alliance purchased a new stake in UWM in the first quarter worth $58,000. Institutional investors own 53.59% of the company's stock.

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.

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