The Goldman Sachs Group Lowers UWM (NYSE:UWMC) Price Target to $7.50

UWM (NYSE:UWMC) had its target price reduced by The Goldman Sachs Group from $8.50 to $7.50 in a research note issued to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other brokerages also recently commented on UWMC. Wedbush raised their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods raised their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Morgan Stanley began coverage on shares of UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target for the company. Finally, UBS Group increased their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, UWM presently has an average rating of “Hold” and an average target price of $7.53.

UWM Stock Up 1.6 %

UWM stock opened at $5.83 on Thursday. The firm has a market capitalization of $9.32 billion, a price-to-earnings ratio of -25.35 and a beta of 1.67. The firm has a 50 day simple moving average of $7.45 and a 200 day simple moving average of $7.68. UWM has a 1-year low of $5.42 and a 1-year high of $9.74. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio is currently -173.91%.

Insider Activity

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction on Monday, September 16th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 94.11% of the company’s stock.

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently bought and sold shares of the business. Philadelphia Financial Management of San Francisco LLC purchased a new stake in UWM in the third quarter worth about $21,797,000. FMR LLC raised its holdings in UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after purchasing an additional 2,010,985 shares in the last quarter. SG Americas Securities LLC lifted its position in UWM by 1,743.3% during the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after buying an additional 226,819 shares during the period. Carrera Capital Advisors bought a new stake in shares of UWM during the 3rd quarter valued at $1,727,000. Finally, Renaissance Technologies LLC grew its position in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after buying an additional 199,900 shares during the period. Hedge funds and other 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.