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

Shares of UWM Holdings Co. (NYSE:UWMC) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat 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 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.53.

UWMC has been the subject of several research analyst reports. UBS Group raised their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. BTIG Research boosted their target price on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th.

Insider Activity

In other news, CEO Ishbia Mat sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,562,547.20. This represents a 96.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

A number of large investors have recently bought and sold shares of the business. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of UWM during the third quarter valued at $21,797,000. FMR LLC raised its holdings in shares of 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 purchasing an additional 2,010,985 shares in the last quarter. Tidal Investments LLC bought a new stake in UWM during the third quarter valued at about $3,833,000. SG Americas Securities LLC increased 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 acquired a new stake in UWM in the 3rd quarter worth approximately $1,727,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Performance

UWMC stock opened at $6.42 on Friday. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of -27.89 and a beta of 1.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM has a 1-year low of $5.42 and a 1-year high of $9.74. The business has a 50 day simple moving average of $7.11 and a two-hundred day simple moving average of $7.65.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is -173.91%.

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.