UWM Sees Unusually Large Options Volume (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC) was the target of some unusual options trading activity on Thursday. Investors acquired 5,442 call options on the stock. This is an increase of approximately 79% compared to the typical volume of 3,039 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target 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. Barclays raised their price target on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. BTIG Research raised their price target on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. The Goldman Sachs Group raised their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wedbush lifted their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Two 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.29.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in UWM by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock valued at $15,202,000 after acquiring an additional 81,799 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. Azora Capital LP bought a new position in shares of UWM in the 4th quarter worth approximately $6,705,000. Bank of New York Mellon Corp boosted its holdings in shares of UWM by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after buying an additional 37,190 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in UWM by 24.5% during the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after buying an additional 67,383 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Trading Down 2.8 %

Shares of UWMC traded down $0.26 during trading hours on Thursday, reaching $9.03. 694,923 shares of the company traded hands, compared to its average volume of 1,626,463. The company’s fifty day moving average price is $7.63 and its two-hundred day moving average price is $7.10. The company has a market capitalization of $863.07 million, a price-to-earnings ratio of 310.00 and a beta of 1.63. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. UWM has a 12 month low of $4.49 and a 12 month high of $9.35.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same period in the prior year, the business posted $0.11 earnings per share. Equities research analysts predict that UWM will post 0.28 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.40 annualized dividend and a yield of 4.43%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

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.