UWM Holdings Co. (NYSE:UWMC) Short Interest Update

UWM Holdings Co. (NYSE:UWMC) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 12,540,000 shares, a decline of 15.3% from the September 30th total of 14,800,000 shares. Approximately 18.3% of the shares of the company are short sold. Based on an average daily volume of 2,370,000 shares, the short-interest ratio is presently 5.3 days.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,449,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 94.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after acquiring an additional 226,819 shares during the last quarter. Renaissance Technologies LLC raised its stake in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after buying an additional 199,900 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of UWM by 203.7% during the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after purchasing an additional 173,652 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its position in shares of UWM by 334.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock worth $1,557,000 after buying an additional 172,969 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of UWM by 366.1% during the third quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock valued at $1,528,000 after purchasing an additional 140,830 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UWMC. Keefe, Bruyette & Woods raised their price target on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Wedbush raised their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. BTIG Research upped their target price on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their price target on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.68.

UWM Trading Up 1.1 %

Shares of NYSE UWMC traded up $0.07 during trading on Wednesday, reaching $6.61. The company had a trading volume of 3,892,324 shares, compared to its average volume of 1,858,966. The company’s fifty day moving average price is $8.18 and its 200-day moving average price is $7.68. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. UWM has a 12 month low of $4.81 and a 12 month high of $9.74. The stock has a market cap of $632.00 million, a P/E ratio of -330.50 and a beta of 1.63.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, research analysts expect that UWM will post 0.26 earnings per share for the current year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Thursday, September 19th. UWM’s payout ratio is -2,000.00%.

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.