UWM Holdings Co. (NYSE:UWMC) Receives Consensus Recommendation of “Hold” from Brokerages

UWM Holdings Co. (NYSE:UWMC) has received a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.39.

UWMC has been the subject of a number of research analyst reports. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their target price on UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group reduced their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Morgan Stanley lowered their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th.

Institutional Trading of UWM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $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 UWM in the 3rd quarter worth approximately $21,797,000. Renaissance Technologies LLC lifted its position in UWM by 13.2% in the second 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. State Street Corp boosted its stake in shares of UWM by 5.0% during 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 period. Finally, Geode Capital Management LLC grew its holdings in shares of UWM by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after purchasing an additional 41,206 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Down 3.5 %

UWMC stock opened at $5.48 on Friday. The stock’s 50 day moving average is $6.06 and its 200-day moving average is $7.34. UWM has a twelve month low of $5.32 and a twelve month high of $9.74. The firm has a market capitalization of $8.76 billion, a PE ratio of -23.83 and a beta of 1.66. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 7.30%. UWM’s dividend payout ratio is presently -173.91%.

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.