The Goldman Sachs Group Cuts UWM (NYSE:UWMC) Price Target to $7.50

UWM (NYSE:UWMC) had its price objective decreased by The Goldman Sachs Group from $8.50 to $7.50 in a research note released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on UWMC. Morgan Stanley initiated coverage on UWM in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price objective for the company. BTIG Research boosted their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. UBS Group boosted 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. Finally, Wedbush raised their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.53.

UWM Price Performance

UWMC stock opened at $5.83 on Thursday. 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’s 50-day moving average is $7.45 and its 200-day moving average is $7.68. The stock has a market capitalization of $9.32 billion, a PE ratio of -25.35 and a beta of 1.67. UWM has a 1 year low of $5.42 and a 1 year high of $9.74.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s payout ratio is currently -173.91%.

Insiders Place Their Bets

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,449,344. This trade represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 94.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UWM

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after buying an additional 41,206 shares during the last quarter. Barclays PLC grew its position in shares of UWM by 485.7% during the 3rd quarter. Barclays PLC now owns 26,022 shares of the company’s stock valued at $221,000 after acquiring an additional 21,579 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of UWM during the 3rd quarter worth approximately $466,000. Orion Portfolio Solutions LLC bought a new stake in shares of UWM in the 3rd quarter worth approximately $85,000. Finally, State Street Corp lifted its stake in UWM by 5.0% in the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after purchasing an additional 76,221 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.