UWM (NYSE:UWMC) Stock Price Up 10.9% – Here’s Why

UWM Holdings Corporation (NYSE:UWMC)’s stock price traded up 10.9% during trading on Friday. The company traded as high as $1.26 and last traded at $1.2750. Approximately 2,486,472 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 18,117,131 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

Several brokerages have weighed in on UWMC. Citizens Jmp raised UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price target on the stock in a research report on Wednesday, July 29th. BTIG Research cut UWM from a “buy” rating to a “neutral” rating in a report on Monday, October 12th. Barclays lowered their price target on shares of UWM from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Wall Street Zen downgraded shares of UWM from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Keefe, Bruyette & Woods downgraded UWM from an “outperform” rating to a “market perform” rating and set a $1.50 price target for the company. in a report on Wednesday, October 7th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.76.

UWM Price Performance

The company’s 50-day simple moving average is $1.29 and its 200-day simple moving average is $2.17. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $2.00 billion, a P/E ratio of -15.56 and a beta of 1.82.

UWM (NYSE:UWMC) last announced its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). UWM had a negative return on equity of 6.20% and a negative net margin of 1.04%. The business had revenue of $888.00 million for the quarter, compared to analyst estimates of $727.46 million. As a group, sell-side analysts expect that UWM Holdings Corporation will post -0.06 EPS for the current fiscal year.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in UWMC. Cetera Investment Advisers increased its position in shares of UWM by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 159,891 shares of the company’s stock valued at $579,000 after purchasing an additional 9,057 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of UWM by 60.8% in the 1st quarter. HB Wealth Management LLC now owns 28,068 shares of the company’s stock worth $102,000 after buying an additional 10,609 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in UWM in the 2nd quarter worth $25,000. Fifth Third Bancorp purchased a new position in shares of UWM during the 1st quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of UWM by 1,570.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,191 shares of the company’s stock worth $53,000 after acquiring an additional 11,461 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Company Profile

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

United Wholesale Mortgage traces its history to 1986 and is headquartered in Pontiac, Michigan.