Q4 Earnings Estimate for UWM Issued By Wedbush (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC) – Wedbush cut their Q4 2024 earnings per share (EPS) estimates for shares of UWM in a report issued on Monday, November 11th. Wedbush analyst J. Mccanless now expects that the company will post earnings per share of $0.06 for the quarter, down from their previous estimate of $0.10. Wedbush has a “Neutral” rating and a $8.50 price objective on the stock. The consensus estimate for UWM’s current full-year earnings is $0.19 per share.

Several other research firms have also recently issued reports on UWMC. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. BTIG Research boosted their target price on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Morgan Stanley assumed coverage on UWM in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price target on the stock. Finally, UBS Group upped their price objective on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.66.

UWM Stock Down 2.2 %

UWM stock opened at $5.89 on Wednesday. UWM has a one year low of $5.42 and a one year high of $9.74. The business’s fifty day moving average is $7.64 and its 200 day moving average is $7.70. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.79%. UWM’s payout ratio is currently -173.91%.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at $1,449,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 94.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UWM

Hedge funds have recently modified their holdings of the stock. McAdam LLC increased 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 increased its holdings in shares of UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock worth $171,000 after purchasing an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of UWM by 8.7% in 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. CWM LLC boosted its stake in UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after buying an additional 3,177 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in UWM by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after buying an additional 3,207 shares in the last quarter. 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.