UWM Holdings Co. (NYSE:UWMC) Short Interest Down 15.3% in October

UWM Holdings Co. (NYSE:UWMC - Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 12,540,000 shares, a drop of 15.3% from the September 30th total of 14,800,000 shares. Approximately 18.3% of the shares of the stock are sold short. Based on an average trading volume of 2,370,000 shares, the short-interest ratio is presently 5.3 days.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction on Friday, August 30th. The stock was 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 owns 171,520 shares of the company's stock, valued at $1,562,547.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 94.11% of the company's stock.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company's stock worth $1,662,000 after acquiring an additional 226,819 shares in the last quarter. Renaissance Technologies LLC grew its position 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 worth $11,870,000 after acquiring an additional 199,900 shares in the last quarter. AQR Capital Management LLC grew its position in shares of UWM by 203.7% in the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company's stock worth $1,784,000 after acquiring an additional 173,652 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its position in shares of UWM by 334.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company's stock worth $1,557,000 after acquiring an additional 172,969 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of UWM by 366.1% in the 3rd quarter. Inspire Investing LLC now owns 179,298 shares of the company's stock worth $1,528,000 after acquiring an additional 140,830 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Stock Performance

Shares of NYSE:UWMC remained flat at $6.63 during mid-day trading on Monday. The company had a trading volume of 2,634,649 shares, compared to its average volume of 1,844,091. UWM has a 1-year low of $4.81 and a 1-year high of $9.74. The stock's 50-day moving average price is $8.29 and its 200 day moving average price is $7.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $633.89 million, a price-to-earnings ratio of -331.50 and a beta of 1.63.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analysts' expectations of $540.31 million. During the same period in the previous year, the business posted $0.11 EPS. Equities research analysts expect that UWM will post 0.26 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.03%. UWM's dividend payout ratio (DPR) is presently -2,000.00%.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on UWM from $7.00 to $8.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 7th. UBS Group raised their price objective on UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a report on Thursday, September 5th. The Goldman Sachs Group raised their price objective on UWM from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Barclays upgraded UWM from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, Wedbush raised their target price on UWM from $7.00 to $8.50 and gave the company a "neutral" rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, UWM has an average rating of "Hold" and a consensus target price of $7.68.

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.