UWM Holdings Co. (NYSE:UWMC) Receives $7.53 Average PT from Brokerages

UWM Holdings Co. (NYSE:UWMC) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the firm, MarketBeat reports. One investment 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 12 month price objective among analysts that have issued a report on the stock in the last year is $7.53.

Several research firms recently commented on UWMC. Wedbush boosted their price objective on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lowered their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Morgan Stanley initiated coverage on UWM in a report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th.

Insider Activity at UWM

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of UWM 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 transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,562,547.20. This trade represents a 96.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its holdings in UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock valued at $87,064,000 after buying an additional 2,010,985 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of UWM in the 3rd quarter valued at $21,797,000. Renaissance Technologies LLC lifted its holdings in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after acquiring an additional 199,900 shares in the last quarter. State Street Corp boosted its position in UWM by 5.0% during the 3rd quarter. State Street Corp now owns 1,592,084 shares of the company’s stock worth $13,723,000 after purchasing an additional 76,221 shares during the period. Finally, Geode Capital Management LLC increased its holdings in UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after purchasing an additional 41,206 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Stock Performance

NYSE UWMC opened at $6.15 on Friday. The business has a 50 day moving average price of $7.17 and a 200 day moving average price of $7.65. 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 company has a market capitalization of $9.83 billion, a P/E ratio of -26.74 and a beta of 1.67. UWM has a 1-year low of $5.42 and a 1-year high of $9.74.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is -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.