UWM (NYSE:UWMC) PT Raised to $4.75 at UBS Group

UWM (NYSE:UWMC) had its price target increased by UBS Group from $4.50 to $4.75 in a report issued on Thursday, Benzinga reports. UBS Group currently has a sell rating on the stock.

Several other analysts also recently commented on UWMC. Wedbush increased their price objective on shares of UWM from $7.00 to $8.50 and gave the company a neutral rating in a research report on Wednesday, August 7th. Barclays increased their price objective on shares of UWM from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods increased 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. BTIG Research increased their price objective 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. Finally, The Goldman Sachs Group increased their price objective on shares of UWM from $7.50 to $8.50 and gave the company a neutral rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UWM has an average rating of Hold and an average price target of $7.39.

UWM Stock Down 3.5 %

Shares of UWM stock opened at $8.94 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50-day moving average of $8.29 and a 200 day moving average of $7.36. The firm has a market cap of $853.99 million, a price-to-earnings ratio of 297.83 and a beta of 1.63. UWM has a 1 year low of $4.49 and a 1 year high of $9.74.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 posted $0.11 EPS. As a group, sell-side analysts anticipate that UWM will post 0.28 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, September 19th. UWM’s payout ratio is presently 1,333.33%.

Insider Activity

In related news, CEO Ishbia Mat sold 5,000,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,562,547.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of UWM by 5.9% in 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 during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of UWM by 124.3% in the first quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock worth $397,000 after buying an additional 30,361 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after buying an additional 226,819 shares during the last quarter. Azora Capital LP purchased a new position in shares of UWM in the fourth quarter worth approximately $6,705,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in UWM by 2.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 277,580 shares of the company’s stock worth $1,985,000 after acquiring an additional 5,478 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.