| Over a week ago | ||||
Latest data shows the… Latest data shows the largest indicative borrow rate increases among liquid option names include: TPG Pace Beneficial Finance (TPGY) 15.37% +3.08, Titan Pharmaceuticals (TTNP) 29.43% +1.02, BrainStorm (BCLI) 7.92% +0.94, UWM Holdings Corp (UWMC) 7.40% +0.68, CBAK Energy Technology (CBAT) 64.01% +0.59, Siebert Financial (SIEB) 5.82% +0.57, Ocean Power (OPTT) 12.74% +0.52, (PSAC) 17.06% +0.52, (SOAC) 0.90% +0.47, and Arcadia Biosciences (RKDA) 35.86% +0.40. | ||||
Credit Suisse analyst… Credit Suisse analyst Douglas Harter initiated coverage of UWM Holdings with an Outperform rating and $10.50 price target. Combined with the 4.8% dividend yield, the analyst sees a 31% total return potential over the coming 12 months. UWMC is the third largest mortgage originator, with a sole focus on the wholesale channel where it is the largest competitor by a relatively wide margin, Harter tells investors in a research note. | ||||
Speciality Finance… Speciality Finance Analyst Coffey holds a conference call with CEO Ishbia on February 22 at 2:30 pm hosted by Wedbush. | ||||
Speciality Finance… Speciality Finance Analyst Coffey holds a conference call with CEO Ishbia on February 22 at 2:30 pm hosted by Wedbush. | ||||
Speciality Finance… Speciality Finance Analyst Coffey holds a conference call with CEO Ishbia on February 22 at 2:30 pm hosted by Wedbush. | ||||
Goldman Sachs analyst… Goldman Sachs analyst Ryan Nash initiated coverage of UWM Holdings with a Neutral rating and $10.50 price target. The analyst sees opportunity for further market share gains but finds the stock's risk/reward as balanced at this point. | |
Deutsche Bank analyst… Deutsche Bank analyst Ashish Sabadra initiated coverage of UWM Holdings with a Buy rating and $12 price target. United Wholesale Mortgage is the second-largest residential mortgage lender and the largest wholesale mortgage lender in the U.S., Sabadra tells investors in a research note. The analyst believes UWM's "leading proprietary technology and relentless focus on service empower mortgage brokers," and are key catalysts to accelerate the shift to wholesale mortgage origination. | |
Bullish option flow… Bullish option flow detected in UWM Holdings Corp with 33,877 calls trading, 1.3x expected, and implied vol increasing over 2 points to 91.94%. Feb-21 12.5 calls and Mar-21 12.5 calls are the most active options, with total volume in those strikes near 12,200 contracts. The Put/Call Ratio is 0.11. |
| Over a month ago | ||||
Last night, United… Last night, United Wholesale Mortgage and Gores Holdings IV (GHIV), a special purpose acquisition company sponsored by an affiliate of The Gores Group, announced the closing of their previously announced business combination, "which hails as the largest SPAC transaction to date with a valuation of approximately $16B." In connection with the closing, Gores Holdings IV changed its name to UWM Holdings Corporation and has commenced trading on the New York Stock Exchange under the new ticker symbol "UWMC" as of January 22. In connection with the closing of the business combination, UWM has received approximately $925M of gross proceeds which includes approximately $425M of cash from Gores Holdings IV, as well as $500M in proceeds from the private placement completed in connection with the business combination. Upon completion of the transaction, including the private placement, the current owners of UWM will retain approximately 94% ownership of the combined company. The existing management team, led by President and CEO Mat Ishbia, will continue to lead the business, the company noted. | ||||
New option listings for… New option listings for January 22nd include Playtika Holding Corporation (PLTK) and UWM Holdings Corporation (Class A Stock) (UWMC). Option delistings effective January 22nd include Gores Holdings IV Inc (Class A Stock) (GHIV). | ||||