Morgan Stanley Issues Pessimistic Forecast for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its price objective cut by Morgan Stanley from $7.50 to $6.50 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on the stock. UBS Group upped 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. Keefe, Bruyette & Woods decreased their target price on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, UWM has a consensus rating of “Hold” and an average target price of $7.28.

UWM Price Performance

Shares of UWM stock opened at $5.88 on Thursday. The stock’s fifty day moving average is $6.40 and its 200 day moving average is $7.51. UWM has a one year low of $5.44 and a one year high of $9.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $9.40 billion, a P/E ratio of -25.57 and a beta of 1.65.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently added to or reduced their stakes in the business. McAdam LLC raised its holdings in UWM by 16.0% in the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after acquiring an additional 1,758 shares during the last quarter. Wedmont Private Capital boosted its stake in UWM by 10.8% in the 3rd quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock worth $171,000 after buying an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in UWM by 8.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after buying an additional 1,991 shares during the period. Rhumbline Advisers raised its stake in UWM by 3.9% during the second quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after purchasing an additional 3,426 shares during the period. Finally, Integrated Investment Consultants LLC grew its stake in shares of UWM by 7.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company’s stock valued at $858,000 after buying an additional 7,334 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.