UWM (NYSE:UWMC) Shares Gap Up to $8.42

UWM Holdings Co. (NYSE:UWMC) shares gapped up before the market opened on Monday . The stock had previously closed at $8.42, but opened at $8.70. UWM shares last traded at $8.53, with a volume of 634,464 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on UWMC. Barclays increased their price objective on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. The Goldman Sachs Group boosted their price objective on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wedbush raised their target price on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group boosted their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.39.

UWM Price Performance

The firm’s 50 day moving average is $8.70 and its 200 day moving average is $7.55. The firm has a market cap of $819.10 million, a P/E ratio of 285.67 and a beta of 1.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same period in the previous year, the business earned $0.11 earnings per share. As a group, analysts anticipate that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.67%. UWM’s dividend payout ratio is presently 1,333.33%.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 5,000,000 shares of UWM stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.11, for a total value of $45,550,000.00. Following the completion of the sale, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,562,547.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 94.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. ORG Partners LLC bought a new stake in UWM in the 1st quarter valued at $29,000. Atlas Capital Advisors LLC lifted its position in shares of UWM by 190.5% in the first quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after buying an additional 3,309 shares in the last quarter. CWM LLC boosted its stake in UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after buying an additional 3,177 shares during the last quarter. International Assets Investment Management LLC purchased a new position in UWM during the 2nd quarter valued at approximately $52,000. Finally, SageView Advisory Group LLC purchased a new position in UWM during the 1st quarter valued at approximately $55,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

About UWM

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.