UWM (NYSE:UWMC) Stock Price Up 9% – Here’s What Happened

UWM Holdings Corporation (NYSE:UWMC)’s stock price was up 9% during trading on Monday . The stock traded as high as $1.39 and last traded at $1.3950. 14,340,949 shares traded hands during trading, a decline of 28% from the average daily volume of 19,839,209 shares. The stock had previously closed at $1.28.

Wall Street Analyst Weigh In

Several research firms recently commented on UWMC. BTIG Research cut their price target on UWM from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods cut their target price on shares of UWM from $3.75 to $2.75 and set an “outperform” rating on the stock in a report on Monday. Citizens Jmp raised shares of UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price objective on the stock in a report on Wednesday, July 29th. Zacks Research lowered UWM from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. Finally, Stephens lowered their price objective on shares of UWM from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.01.

UWM Stock Up 8.2%

The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -17.31 and a beta of 1.79. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.52 and a current ratio of 1.52. The business’s 50 day moving average is $2.13 and its 200 day moving average is $3.36.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $162.13 million for the quarter, compared to analyst estimates of $727.46 million. UWM had a negative return on equity of 5.61% and a negative net margin of 1.04%. Equities analysts expect that UWM Holdings Corporation will post 0.3 earnings per share for the current year.

Institutional Trading of UWM

Large investors have recently made changes to their positions in the stock. Meeder Advisory Services Inc. bought a new position in shares of UWM in the second quarter valued at approximately $25,000. Allworth Financial LP grew its holdings in shares of UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after purchasing an additional 4,091 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of UWM in the 2nd quarter valued at $35,000. Farther Finance Advisors LLC lifted its stake in UWM by 1,410.7% during the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after purchasing an additional 8,027 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in UWM in the 3rd quarter valued at $38,000. Institutional investors own 53.59% of the company’s stock.

About UWM

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.