UWM (NYSE:UWMC) Trading 6.6% Higher – Time to Buy?

UWM Holdings Co. (NYSE:UWMC) traded up 6.6% on Wednesday . The stock traded as high as $5.55 and last traded at $5.71. 439,191 shares changed hands during trading, a decline of 83% from the average session volume of 2,626,200 shares. The stock had previously closed at $5.35.

Analyst Upgrades and Downgrades

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

UWM Trading Down 3.9 %

The firm has a market capitalization of $8.89 billion, a PE ratio of -24.20 and a beta of 1.64. The firm has a fifty day moving average of $6.11 and a 200 day moving average of $6.45. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million. Equities research analysts expect that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Thursday, March 20th. UWM’s dividend payout ratio is presently 500.00%.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in UWM by 14.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 55,858 shares of the company’s stock worth $328,000 after purchasing an additional 6,976 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of UWM by 16.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,047 shares of the company’s stock worth $1,157,000 after buying an additional 27,531 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of UWM by 9.9% in the 4th quarter. Voloridge Investment Management LLC now owns 699,778 shares of the company’s stock valued at $4,108,000 after buying an additional 62,978 shares during the period. Trace Wealth Advisors LLC bought a new stake in shares of UWM during the 4th quarter valued at about $132,000. Finally, Sherbrooke Park Advisers LLC raised its stake in UWM by 17.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after acquiring an additional 2,975 shares during the period. 53.59% of the stock is currently owned by 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.