UWM Holdings Corporation (NYSE:UWMC - Get Free Report) shares shot up 11% during mid-day trading on Wednesday . The stock traded as high as $5.60 and last traded at $5.62. 14,966,806 shares changed hands during trading, an increase of 166% from the average session volume of 5,629,161 shares. The stock had previously closed at $5.06.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on UWMC. Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective on the stock in a report on Tuesday, July 8th. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods lowered UWM from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Finally, The Goldman Sachs Group decreased their price target on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, UWM currently has a consensus rating of "Hold" and a consensus price target of $5.54.
Read Our Latest Report on UWMC
UWM Stock Performance
The firm has a market capitalization of $8.62 billion, a P/E ratio of -107.80 and a beta of 1.70. The firm has a 50-day moving average price of $4.33 and a two-hundred day moving average price of $4.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55.
UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. The business had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. On average, analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.
UWM Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.4%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is -800.00%.
Insider Transactions at UWM
In other UWM news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $4.22, for a total value of $1,688,151.92. Following the transaction, the chief executive officer owned 1,499,352 shares in the company, valued at $6,327,265.44. The trade was a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 9,600,864 shares of company stock valued at $41,115,700 in the last 90 days. 87.50% of the stock is owned by insiders.
Hedge Funds Weigh In On UWM
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EVR Research LP purchased a new position in UWM in the second quarter valued at about $4,189,000. Brevan Howard Capital Management LP boosted its holdings in UWM by 227.8% in the second quarter. Brevan Howard Capital Management LP now owns 601,168 shares of the company's stock worth $2,489,000 after acquiring an additional 417,789 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in UWM by 116.6% in 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 in the last quarter. Bank of America Corp DE boosted its holdings in UWM by 93.8% in the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock worth $15,561,000 after acquiring an additional 1,819,129 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new stake in shares of UWM during the second quarter worth about $19,872,000. Hedge funds and other institutional investors own 53.59% of the company's stock.
UWM Company Profile
(
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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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