UWM Holdings Co. (NYSE:UWMC) Given Average Recommendation of “Hold” by Brokerages

UWM Holdings Co. (NYSE:UWMC) has received a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.53.

A number of research firms recently commented on UWMC. UBS Group increased their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a report on Thursday, September 5th. BTIG Research raised their price target on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their price target on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods increased their price objective on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th.

UWM Stock Performance

Shares of NYSE UWMC opened at $6.03 on Friday. UWM has a one year low of $5.42 and a one year high of $9.74. The business’s 50-day moving average price is $7.23 and its two-hundred day moving average price is $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 $9.63 billion, a P/E ratio of -26.21 and a beta of 1.67.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s payout ratio is presently -173.91%.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of the 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 completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,562,547.20. This represents a 96.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Several institutional investors have recently bought and sold shares of UWMC. Philadelphia Financial Management of San Francisco LLC acquired a new position in UWM in the third quarter valued at about $21,797,000. FMR LLC boosted its holdings in shares of UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after acquiring an additional 2,010,985 shares in the last quarter. SG Americas Securities LLC grew its position in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after acquiring an additional 226,819 shares during the last quarter. Carrera Capital Advisors acquired a new stake in UWM during the 3rd quarter valued at $1,727,000. Finally, Renaissance Technologies LLC raised its position in UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. Institutional investors and hedge funds 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.