UWM Holdings Co. (NYSE:UWMC - Get Free Report) shares rose 5% during mid-day trading on Monday . The company traded as high as $6.56 and last traded at $6.60. Approximately 3,122,190 shares changed hands during trading, a decline of 9% from the average daily volume of 3,437,238 shares. The stock had previously closed at $6.28.
Analyst Upgrades and Downgrades
UWMC has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $6.50 to $7.50 in a report on Monday. Morgan Stanley decreased their price target on shares of UWM from $7.50 to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group cut their price objective on UWM from $8.50 to $7.50 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Finally, Wedbush reiterated a "neutral" rating and issued a $6.50 target price on shares of UWM in a research report on Monday. 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.25.
Check Out Our Latest Report on UWMC
UWM Trading Up 2.7 %
The stock has a fifty day moving average price of $6.12 and a 200 day moving average price of $6.92. The stock has a market cap of $10.22 billion, a PE ratio of -27.81 and a beta of 1.64. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. Equities analysts expect that UWM Holdings Co. 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. Investors of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend is Thursday, March 20th. UWM's payout ratio is currently 500.00%.
Institutional Trading of UWM
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of UWM by 56.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company's stock worth $3,541,000 after purchasing an additional 149,216 shares during the last quarter. Carrera Capital Advisors bought a new position in UWM in the 3rd quarter worth about $1,727,000. Point72 Asset Management L.P. purchased a new position in shares of UWM during the third quarter worth approximately $1,065,000. Geode Capital Management LLC raised its stake in shares of UWM by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock valued at $13,183,000 after acquiring an additional 41,206 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of UWM by 446.3% in the third quarter. Verition Fund Management LLC now owns 159,666 shares of the company's stock valued at $1,360,000 after purchasing an additional 130,439 shares during the period. Hedge funds and other institutional investors own 53.59% of the company's stock.
About UWM
(
Get Free Report)
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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