UWM Holdings Co. (NYSE:UWMC) Given Consensus Recommendation of “Reduce” by Analysts

Shares of UWM Holdings Co. (NYSE:UWMC) have earned an average recommendation of “Reduce” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.39.

A number of equities research analysts recently commented on the stock. BTIG Research increased their target price on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their target price 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. Wedbush upped their price target 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. UBS Group upped their price target 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. Finally, Barclays upped their price target on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.11, for a total value of $45,550,000.00. Following the sale, the chief executive officer now owns 171,520 shares in the company, valued at $1,562,547.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Hedge funds and other institutional investors have recently made changes to their positions in the business. McAdam LLC boosted its holdings in UWM by 16.0% during the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock worth $88,000 after buying an additional 1,758 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in UWM by 8.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock worth $168,000 after buying an additional 1,991 shares in the last quarter. Parallel Advisors LLC boosted its holdings in UWM by 44.3% during the fourth quarter. Parallel Advisors LLC now owns 9,820 shares of the company’s stock worth $70,000 after buying an additional 3,014 shares in the last quarter. CWM LLC boosted its holdings in UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after buying an additional 3,177 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in UWM by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after buying an additional 3,207 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Trading Down 3.2 %

NYSE:UWMC opened at $8.07 on Thursday. UWM has a 52 week low of $4.49 and a 52 week high of $9.74. The firm has a 50 day moving average of $8.78 and a 200 day moving average of $7.64. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $770.84 million, a price-to-earnings ratio of 268.83 and a beta of 1.63.

UWM (NYSE:UWMC) last posted its earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same period last year, the firm earned $0.11 earnings per share. As a group, sell-side analysts anticipate that UWM will post 0.27 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.96%. UWM’s payout ratio is currently 1,333.33%.

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.