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

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

UWM Price Performance

Shares of UWMC stock traded up $0.17 on Thursday, reaching $6.08. The company’s stock had a trading volume of 781,192 shares, compared to its average volume of 2,490,325. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of -26.41 and a beta of 1.64. The stock’s fifty day simple moving average is $6.17 and its 200-day simple moving average is $6.69. UWM has a 1 year low of $5.31 and a 1 year high of $9.74. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

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 company had revenue of $560.21 million during the quarter, compared to the consensus estimate of $645.75 million. Analysts forecast that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a dividend yield of 6.58%. UWM’s dividend payout ratio (DPR) is 500.00%.

Institutional Trading of UWM

Institutional investors and hedge funds have recently made changes to their positions in the business. Townsquare Capital LLC bought a new stake in shares of UWM during the fourth quarter worth $72,000. Sanctuary Advisors LLC bought a new stake in shares of UWM during the fourth quarter worth $77,000. HB Wealth Management LLC lifted its position in shares of UWM by 23.0% during the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after purchasing an additional 2,631 shares during the last quarter. Sei Investments Co. bought a new stake in shares of UWM during the fourth quarter worth $82,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of UWM during the third quarter worth $85,000. 53.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.