UWM Sees Unusually Large Options Volume (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock investors acquired 12,580 call options on the stock. This represents an increase of 120% compared to the average volume of 5,708 call options.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Barclays raised shares of UWM from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. Wedbush upped their target price on shares of UWM from $7.00 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Morgan Stanley began coverage on shares of UWM in a research note on Tuesday, November 5th. They issued an "equal weight" rating and a $7.50 target price for the company. Finally, BTIG Research upped their target price on shares of UWM from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.53.

UWM Stock Performance

Shares of UWMC traded up $0.33 during trading hours on Tuesday, hitting $6.24. The company had a trading volume of 3,426,289 shares, compared to its average volume of 1,977,086. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of -27.11 and a beta of 1.67. The business has a fifty day moving average of $7.34 and a 200-day moving average of $7.67. UWM has a 12 month low of $5.42 and a 12 month high of $9.74. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Thursday, December 19th. UWM's dividend payout ratio is -173.91%.

Insider Activity

In other news, CEO Ishbia Mat sold 5,000,000 shares of UWM stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,562,547.20. The trade was a 96.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 94.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On UWM

A number of large investors have recently bought and sold shares of the company. FMR LLC boosted its position in UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company's stock worth $87,064,000 after buying an additional 2,010,985 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of UWM in the 3rd quarter valued at $21,797,000. Renaissance Technologies LLC increased its stake in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company's stock valued at $11,870,000 after acquiring an additional 199,900 shares in the last quarter. State Street Corp grew its position in UWM by 5.0% in the 3rd quarter. State Street Corp now owns 1,592,084 shares of the company's stock valued at $13,723,000 after purchasing an additional 76,221 shares during the period. Finally, Geode Capital Management LLC grew its position in UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock valued at $13,183,000 after purchasing an additional 41,206 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.