Short Interest in UWM Holdings Co. (NYSE:UWMC) Rises By 20.2%

UWM Holdings Co. (NYSE:UWMC) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 18,490,000 shares, an increase of 20.2% from the February 13th total of 15,380,000 shares. Currently, 19.6% of the shares of the company are sold short. Based on an average trading volume of 3,390,000 shares, the short-interest ratio is presently 5.5 days.

UWM Price Performance

Shares of NYSE:UWMC traded down $0.12 during trading on Wednesday, reaching $6.00. The stock had a trading volume of 3,113,384 shares, compared to its average volume of 2,491,733. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The business has a fifty day moving average price of $6.17 and a 200-day moving average price of $6.70. The stock has a market cap of $9.58 billion, a PE ratio of -26.07 and a beta of 1.64. UWM has a 1-year low of $5.31 and a 1-year high of $9.74.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $560.21 million during the quarter, compared to analysts’ expectations of $645.75 million. On average, equities analysts forecast that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend is Thursday, March 20th. UWM’s dividend payout ratio is presently 500.00%.

Wall Street Analyst Weigh In

Several analysts recently commented on UWMC shares. Wedbush reaffirmed a “neutral” rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. Morgan Stanley dropped their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $6.50 to $7.50 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.25.

Institutional Trading of UWM

A number of institutional investors have recently made changes to their positions in the company. Townsquare Capital LLC purchased a new position in UWM during the fourth quarter worth approximately $72,000. Sanctuary Advisors LLC acquired a new stake in shares of UWM in the 4th quarter worth $77,000. HB Wealth Management LLC raised its holdings in shares of UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after acquiring an additional 2,631 shares during the period. Sei Investments Co. acquired a new position in shares of UWM during the 4th quarter valued at about $82,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of UWM in the third quarter valued at about $85,000. 53.59% of the stock is owned by institutional investors and hedge funds.

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.