UWM Holdings Co. (NYSE:UWMC) Receives Consensus Rating of “Hold” from Brokerages

UWM Holdings Co. (NYSE:UWMC) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $7.53.

UWMC has been the topic of a number of research reports. UBS Group boosted their target price on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. BTIG Research boosted their price objective on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Wedbush increased their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley initiated coverage on UWM in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target on the stock. Finally, The Goldman Sachs Group cut their price target on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th.

UWM Stock Performance

UWMC opened at $6.56 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $7.01 and its two-hundred day moving average price is $7.63. The firm has a market capitalization of $10.48 billion, a P/E ratio of -28.52 and a beta of 1.67. UWM has a 12-month low of $5.42 and a 12-month high of $9.74.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.10%. UWM’s dividend payout ratio is currently -173.91%.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the transaction, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at $1,449,344. The trade was a 87.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 94.11% of the stock is owned by insiders.

Hedge Funds Weigh In On UWM

Several institutional investors have recently bought and sold shares of the business. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of UWM in the third quarter valued at $21,797,000. FMR LLC increased its position in UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after acquiring an additional 2,010,985 shares in the last quarter. Tidal Investments LLC bought a new position in shares of UWM in the third quarter worth about $3,833,000. SG Americas Securities LLC lifted its position in shares of UWM by 1,743.3% during the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Finally, Carrera Capital Advisors bought a new stake in shares of UWM during the third quarter valued at approximately $1,727,000. Institutional investors own 53.59% of the company’s stock.

UWM Company Profile

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.