UWM (NYSE:UWMC) Shares Up 7% – Here’s Why

UWM Holdings Co. (NYSE:UWMC)’s stock price traded up 7% on Tuesday . The company traded as high as $5.85 and last traded at $5.81. 2,390,487 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 4,723,378 shares. The stock had previously closed at $5.43.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UWMC shares. Keefe, Bruyette & Woods cut their target price on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group cut their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Morgan Stanley decreased their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.39.

UWM Stock Performance

The firm’s 50 day simple moving average is $6.01 and its 200 day simple moving average is $7.32. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of -26.89 and a beta of 1.66. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.47%. UWM’s payout ratio is -173.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC purchased a new stake in shares of UWM in the third quarter valued at approximately $85,000. Xponance Inc. purchased a new position in UWM during the second quarter valued at $76,000. Intech Investment Management LLC acquired a new stake in shares of UWM in the second quarter valued at about $85,000. Quantinno Capital Management LP purchased a new stake in shares of UWM during the third quarter worth about $106,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of UWM during the 2nd quarter worth about $93,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.