UWM Holdings Corporation (NYSE:UWMC – Get Free Report)’s stock price traded up 9.3% on Tuesday . The stock traded as high as $2.27 and last traded at $2.2950. Approximately 2,679,991 shares traded hands during trading, a decline of 86% from the average daily volume of 19,425,498 shares. The stock had previously closed at $2.10.
Wall Street Analyst Weigh In
UWMC has been the subject of a number of research analyst reports. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Compass Point began coverage on UWM in a research report on Tuesday, March 10th. They issued a “buy” rating and a $8.50 target price on the stock. BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of UWM in a research note on Wednesday, June 24th. Weiss Ratings lowered UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $5.50 price target on shares of UWM in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UWM has an average rating of “Hold” and a consensus target price of $4.99.
Read Our Latest Stock Analysis on UWM
UWM Price Performance
UWM (NYSE:UWMC – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $901.43 million for the quarter, compared to analyst estimates of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 19.01%. As a group, equities analysts predict that UWM Holdings Corporation will post 0.38 earnings per share for the current fiscal year.
UWM Dividend Announcement
The firm also recently announced 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 is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 18.0%. UWM’s dividend payout ratio (DPR) is 148.15%.
Insider Buying and Selling at UWM
In related news, CEO Ishbia Mat sold 1,003,333 shares of UWM 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 transaction, the chief executive officer owned 2,995,754 shares in the company, valued at $10,694,841.78. The trade was a 25.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,938,042 shares of company stock valued at $62,561,191. 80.30% of the stock is owned by insiders.
Hedge Funds Weigh In On UWM
Hedge funds have recently bought and sold shares of the business. Integrated Investment Consultants LLC purchased a new position in shares of UWM during the 3rd quarter valued at approximately $32,630,000. Tudor Investment Corp ET AL acquired a new stake in UWM in the 3rd quarter valued at $12,237,000. Alight Capital Management LP purchased a new stake in UWM in the 3rd quarter worth $3,958,000. Vanguard Group Inc. increased its holdings in UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock worth $105,252,000 after acquiring an additional 1,010,907 shares in the last quarter. Finally, Luxor Capital Group LP acquired a new position in UWM during the third quarter worth $7,473,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.
About UWM
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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