UWM Target of Unusually Large Options Trading (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC - Get Free Report) was the target of unusually large options trading on Tuesday. Traders purchased 7,702 call options on the company. This represents an increase of 180% compared to the average daily volume of 2,755 call options.

UWM Price Performance

NYSE:UWMC traded up $0.02 during trading hours on Friday, hitting $4.23. 2,998,087 shares of the stock traded hands, compared to its average volume of 3,022,698. The company has a market cap of $6.76 billion, a price-to-earnings ratio of -18.39 and a beta of 1.75. UWM has a 1 year low of $4.04 and a 1 year high of $9.74. The stock has a 50 day moving average price of $5.14 and a 200 day moving average price of $5.81. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings results 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. Sell-side analysts forecast that UWM will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.46%. The ex-dividend date is Wednesday, June 18th. UWM's dividend payout ratio (DPR) is presently -307.69%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock worth $69,060,000 after purchasing an additional 3,212,081 shares during the period. First Trust Advisors LP boosted its stake in UWM by 886.9% during the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after buying an additional 3,349,779 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of UWM during the fourth quarter valued at about $6,602,000. Bank of New York Mellon Corp raised its stake in shares of UWM by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock valued at $6,386,000 after acquiring an additional 147,459 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in shares of UWM by 9.9% in the 4th quarter. Voloridge Investment Management LLC now owns 699,778 shares of the company's stock worth $4,108,000 after acquiring an additional 62,978 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on UWMC shares. Keefe, Bruyette & Woods decreased their price target on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research note on Wednesday. Wedbush restated a "neutral" rating and issued a $6.50 target price on shares of UWM in a report on Monday, March 3rd. The Goldman Sachs Group lowered their price objective on UWM from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, UBS Group raised UWM from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $4.75 to $4.50 in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.86.

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.