UWM (NYSE:UWMC) Trading 7% Higher – What’s Next?

Shares of UWM Holdings Co. (NYSE:UWMC) shot up 7% during trading on Tuesday . The stock traded as high as $5.85 and last traded at $5.81. 2,390,487 shares were traded during 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 Analyst Weigh In

UWMC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered 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 note on Friday, January 3rd. The Goldman Sachs Group lowered their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Morgan Stanley reduced their target price 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 raised shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price target 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.39.

UWM Trading Up 5.9 %

The company has a 50 day moving average of $6.04 and a 200 day moving average of $7.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of -25.00 and a beta of 1.66.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.96%. The ex-dividend date was Thursday, December 19th. UWM’s dividend payout ratio is currently -173.91%.

Institutional Trading of UWM

A number of hedge funds have recently bought and sold shares of UWMC. 180 Wealth Advisors LLC grew its position in shares of UWM by 34.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 61,784 shares of the company’s stock valued at $363,000 after purchasing an additional 15,878 shares in the last quarter. Wedmont Private Capital grew its holdings in UWM by 103.1% in the 4th quarter. Wedmont Private Capital now owns 40,857 shares of the company’s stock valued at $223,000 after buying an additional 20,744 shares in the last quarter. Tidal Investments LLC purchased a new stake in UWM in the 3rd quarter valued at $3,833,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of UWM in the 3rd quarter worth $239,000. Finally, Barclays PLC raised its holdings in shares of UWM by 485.7% during the 3rd quarter. Barclays PLC now owns 26,022 shares of the company’s stock worth $221,000 after acquiring an additional 21,579 shares during the period. Institutional investors and hedge funds 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.