UWM Holdings Corporation (NYSE:UWMC – Get Free Report) fell 7.9% during trading on Monday . The company traded as low as $2.05 and last traded at $2.0450. 13,095,871 shares traded hands during trading, a decline of 32% from the average session volume of 19,156,689 shares. The stock had previously closed at $2.22.
Wall Street Analyst Weigh In
Several research firms recently issued reports on UWMC. Morgan Stanley set a $5.00 price target on shares of UWM in a research note on Thursday, May 7th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of UWM in a research report on Friday, June 5th. Weiss Ratings cut UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 15th. Finally, Barclays reduced their price target on UWM from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.19.
Read Our Latest Stock Report on UWM
UWM Stock Up 0.7%
UWM (NYSE:UWMC – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $901.43 million for the quarter, compared to the consensus estimate of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 19.01%. On average, sell-side analysts predict that UWM Holdings Corporation will post 0.38 earnings per share for the current year.
UWM Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 annualized dividend and a dividend yield of 19.6%. UWM’s dividend payout ratio (DPR) is presently 148.15%.
Insider Buying and Selling
In related news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $3.57, for a total value of $3,581,898.81. Following the completion of the sale, the chief executive officer directly owned 2,995,754 shares of the company’s stock, valued at $10,694,841.78. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,939,764 shares of company stock valued at $73,297,350 in the last three months. 80.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of UWM by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after acquiring an additional 1,676,754 shares in the last quarter. Azora Capital LP boosted its holdings in UWM by 230.8% in the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after purchasing an additional 7,881,586 shares during the period. Brandes Investment Partners LP bought a new stake in UWM during the fourth quarter valued at $45,867,000. Bank of America Corp DE increased its stake in UWM by 127.4% during the first quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after purchasing an additional 3,905,286 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.
UWM Company Profile
United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.
The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.
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