Short Interest in UWM Holdings Co. (NYSE:UWMC) Expands 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 volume of 3,390,000 shares, the days-to-cover ratio is currently 5.5 days. Approximately 19.6% of the company’s stock are short sold.

UWM Stock Performance

UWM stock traded down $0.10 during midday trading on Tuesday, reaching $6.10. 2,685,545 shares of the company’s stock were exchanged, compared to its average volume of 2,484,992. UWM has a 52 week low of $5.31 and a 52 week high of $9.74. 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 firm has a market cap of $9.76 billion, a price-to-earnings ratio of -26.54 and a beta of 1.64. The stock’s 50-day simple moving average is $6.16 and its 200 day simple moving average is $6.72.

UWM (NYSE:UWMC) last issued its quarterly earnings data 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 the consensus estimate of $645.75 million. On average, analysts expect that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Thursday, March 20th. UWM’s dividend payout ratio (DPR) is currently 500.00%.

Institutional Investors Weigh In On UWM

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

Analysts Set New Price Targets

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

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.