UWM (NYSE:UWMC) Stock Price Up 5% – Here’s What Happened

Shares of UWM Holdings Co. (NYSE:UWMC) traded up 5% during trading on Monday . The company traded as high as $6.56 and last traded at $6.60. 3,122,190 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 3,437,238 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Wedbush restated a “neutral” rating and issued a $6.50 price objective on shares of UWM in a report on Monday. Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $6.50 to $7.50 in a research report on Monday. Finally, The Goldman Sachs Group reduced their price target on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and a consensus price target of $7.25.

UWM Stock Performance

The company has a market capitalization of $10.52 billion, a P/E ratio of -28.61 and a beta of 1.66. The stock’s fifty day moving average price is $6.09 and its 200-day moving average price is $6.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million during the quarter, compared to analysts’ expectations of $645.75 million. As a group, research analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 6.08%. UWM’s dividend payout ratio (DPR) is 500.00%.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 buying an additional 3,212,081 shares during the period. FMR LLC lifted its position in UWM by 24.5% during the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after acquiring an additional 2,010,985 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of 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 acquiring an additional 3,349,779 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of UWM in the third quarter valued at approximately $21,797,000. Finally, State Street Corp increased its stake in shares of UWM by 5.0% during the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock worth $13,723,000 after purchasing an additional 76,221 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.