UWM (NYSE:UWMC) Shares Gap Down – Here’s What Happened

by · The Cerbat Gem

UWM Holdings Corporation (NYSE:UWMC – Get Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $5.12, but opened at $4.81. UWM shares last traded at $4.8450, with a volume of 4,888,170 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price target on UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a report on Thursday. Wall Street Zen lowered UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th. UBS Group raised their price objective on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley set a $6.00 target price on UWM in a report on Tuesday. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.56.

Read Our Latest Research Report on UWMC

UWM Stock Down 0.1%

The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. The company has a fifty day moving average of $5.46 and a 200-day moving average of $5.18.

UWM (NYSE:UWMC – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The firm had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. Analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a yield of 8.3%.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 612,287 shares of UWM stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $5.80, for a total value of $3,551,264.60. Following the completion of the sale, the chief executive officer directly owned 9,241,556 shares in the company, valued at $53,601,024.80. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 20,808,763 shares of company stock worth $117,211,730 over the last 90 days. 87.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UWM

Several hedge funds have recently bought and sold shares of UWMC. State of Wyoming grew its position in shares of UWM by 24.9% in the third quarter. State of Wyoming now owns 14,552 shares of the company’s stock valued at $89,000 after purchasing an additional 2,902 shares during the last quarter. Arizona State Retirement System lifted its position in shares of UWM by 8.1% during the 3rd quarter. Arizona State Retirement System now owns 50,661 shares of the company’s stock worth $309,000 after purchasing an additional 3,785 shares during the last quarter. Allworth Financial LP boosted its stake in UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after purchasing an additional 4,091 shares during the period. GAMMA Investing LLC boosted its stake in UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in UWM by 23.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company’s stock valued at $99,000 after buying an additional 4,552 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

About UWM

(Get Free Report)

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.

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