UWM Holdings Co. Class (NYSE:UWMC) Trading 6.7% Higher on Insider Buying Activity

UWM Holdings Co. Class (NYSE:UWMC) shares traded up 6.7% on Thursday following insider buying activity. The company traded as high as $10.77 and last traded at $10.63. 87,713 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 8,105,555 shares. The stock had previously closed at $9.96.

Specifically, Director Robert Verdun bought 25,000 shares of the business’s stock in a transaction on Monday, June 7th. The stock was purchased at an average price of $9.10 per share, with a total value of $227,500.00. Following the transaction, the director now directly owns 136,000 shares in the company, valued at $1,237,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Several research firms have recently issued reports on UWMC. Deutsche Bank Aktiengesellschaft began coverage on shares of UWM Holdings Co. Class in a report on Tuesday, February 16th. They set a “buy” rating and a $12.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of UWM Holdings Co. Class in a research note on Wednesday, February 17th. They issued a “neutral” rating and a $10.50 target price on the stock. Credit Suisse Group cut shares of UWM Holdings Co. Class from an “outperform” rating to a “neutral” rating and upped their target price for the company from $8.00 to $8.50 in a research note on Wednesday, June 2nd. Zacks Investment Research cut shares of UWM Holdings Co. Class from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 15th. Finally, Barclays initiated coverage on shares of UWM Holdings Co. Class in a research note on Wednesday, April 21st. They set an “overweight” rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. UWM Holdings Co. Class currently has a consensus rating of “Hold” and a consensus target price of $10.17.

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $8.08.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 6th. Shareholders of record on Thursday, June 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, June 9th.

A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in UWM Holdings Co. Class in the first quarter valued at approximately $530,000. Rockbridge Investment Management LCC bought a new stake in shares of UWM Holdings Co. Class during the first quarter worth $79,000. Baker Tilly Wealth Management LLC bought a new stake in shares of UWM Holdings Co. Class during the first quarter worth $318,000. Squarepoint Ops LLC bought a new stake in shares of UWM Holdings Co. Class during the first quarter worth $487,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of UWM Holdings Co. Class during the first quarter worth $103,000. 23.22% of the stock is owned by hedge funds and other institutional investors.

UWM Holdings Co. Class Company Profile (NYSE:UWMC)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates mortgage loans through wholesale channel. It originates primarily conforming and government loans. The company was founded in 1986 and is headquartered in Pontiac, Michigan.

Further Reading: Capital Gains Distribution

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