Opinions
Jim Cramer - Mad Money
UWM Holdings
UWMC-N
DON'T BUY
Feb 05, 2021
They reported an amazing quarter, but the market didn't respond. Doesn't like the sector and avoids it.
$9.990
Stock price when the opinion was issued
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leasing
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BUY
Used to be United Wholesale Mortgages, before it merged to become a SPAC in January. It's the largest wholesale mortgage originator in America. Business is booming, but SPACs are selling off and interest rates are rising which is hammering this down over 40% from recent highs. This trades at only 6x earning and pays a 4.9% dividend yield. Hard to figure out why the stock has been hammered.
finance
leasing
DON'T BUY
They have a tussle going on with Rocket. There is weakness now in selling loans, so this group will be purgatory for a bit. At least it pays a 5.4% dividend to tide you over.
finance
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BUY
There were many garbage SPACs earlier this year, but this wholesale mortgage lender is a rare good one. It tumbled from $14 from last year's highs to over $6 last month. Then, they reported a solid quarter and it started to rebound; shares moved up 6% today after announcing they plan to be the US's #1 mortgage lender by 2024 and displacing Rocket. UWMC dominates the wholesale side, but want to capture the retail side. It's an ambitious plan he likes. It trades at just 11x 2022's earnings and pays a near-4% dividend as you wait.
finance
leasing
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