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

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

UWMC has been the subject of a number of other reports. Morgan Stanley began coverage on UWM in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 target price for the company. UBS Group upped their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Wedbush lifted 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. 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. Finally, BTIG Research boosted their target price on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. 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. According to data from MarketBeat, UWM has an average rating of “Hold” and an average target price of $7.53.

UWM Trading Up 1.6 %

NYSE:UWMC opened at $5.83 on Thursday. UWM has a 12 month low of $5.42 and a 12 month high of $9.74. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $557.42 million, a price-to-earnings ratio of -25.35 and a beta of 1.67. The firm has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $7.68.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio is presently -173.91%.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 94.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UWMC. CWM LLC raised its holdings in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares during the period. International Assets Investment Management LLC bought a new stake in shares of UWM in the second quarter valued at $52,000. SageView Advisory Group LLC purchased a new stake in UWM in the 1st quarter worth about $55,000. Orion Portfolio Solutions LLC bought a new stake in UWM in the 3rd quarter valued at about $85,000. Finally, Xponance Inc. purchased a new stake in UWM during the second quarter valued at about $76,000. 53.59% of the stock is currently 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.