UWM Holdings Co. (NYSE:UWMC - Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 18,490,000 shares, a growth of 20.2% from the February 13th total of 15,380,000 shares. Based on an average daily volume of 3,390,000 shares, the days-to-cover ratio is presently 5.5 days. Currently, 19.6% of the company's shares are short sold.
Wall Street Analysts Forecast Growth
UWMC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded UWM from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $6.50 to $7.50 in a report on Monday, March 3rd. Morgan Stanley dropped their price target on UWM from $7.50 to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush reiterated a "neutral" rating and set a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.25.
Get Our Latest Analysis on UWMC
UWM Stock Down 0.9 %
Shares of UWMC traded down $0.05 during trading hours on Friday, reaching $5.87. 5,852,341 shares of the stock traded hands, compared to its average volume of 2,520,891. UWM has a 52 week low of $5.31 and a 52 week high of $9.74. The company has a market cap of $9.38 billion, a price-to-earnings ratio of -25.51 and a beta of 1.64. The stock has a fifty day simple moving average of $6.19 and a 200 day simple moving average of $6.66. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.
UWM (NYSE:UWMC - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to analysts' expectations of $645.75 million. On average, equities analysts forecast that UWM will post 0.2 EPS for the current year.
UWM Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 6.82%. UWM's dividend payout ratio (DPR) is presently 500.00%.
Institutional Investors Weigh In On UWM
A number of hedge funds have recently made changes to their positions in UWMC. First Trust Advisors LP raised its position in UWM by 886.9% in 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. Vanguard Group Inc. lifted its stake in UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after purchasing an additional 3,212,081 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in UWM during the third quarter valued at $21,797,000. FMR LLC increased its position in UWM by 24.5% in the third 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 last quarter. Finally, Basswood Capital Management L.L.C. bought a new stake in shares of UWM in the fourth quarter valued at $6,602,000. 53.59% of the stock is currently owned by institutional investors.
About UWM
(
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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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