UWM Holdings Co. (NYSE:UWMC) Receives $7.39 Average PT from Brokerages

UWM Holdings Co. (NYSE:UWMC) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.39.

UWMC has been the subject of several analyst reports. The Goldman Sachs Group reduced their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods decreased their target price on shares of UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Morgan Stanley dropped their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th.

Institutional Investors Weigh In On UWM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in UWM by 24.5% during 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. Philadelphia Financial Management of San Francisco LLC bought a new position in UWM during the third quarter valued at about $21,797,000. Renaissance Technologies LLC grew its holdings in UWM by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after acquiring an additional 199,900 shares during the period. State Street Corp grew its holdings in UWM by 5.0% during the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock worth $13,723,000 after acquiring an additional 76,221 shares during the period. Finally, Geode Capital Management LLC raised its position in UWM by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after acquiring an additional 41,206 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

UWM Trading Down 0.9 %

NYSE:UWMC opened at $6.13 on Friday. UWM has a 12-month low of $5.31 and a 12-month high of $9.74. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The business has a 50 day simple moving average of $6.01 and a 200 day simple moving average of $7.31. The firm has a market capitalization of $9.79 billion, a P/E ratio of -26.63 and a beta of 1.66.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend was Thursday, December 19th. UWM’s dividend payout ratio (DPR) is presently -173.91%.

About UWM

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.