Keefe, Bruyette & Woods Issues Pessimistic Forecast for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its price target trimmed by Keefe, Bruyette & Woods from $9.00 to $7.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities analysts also recently commented on UWMC. 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 report on Thursday, September 5th. Morgan Stanley started coverage on shares of UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 target price for the company. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, UWM currently has an average rating of “Hold” and a consensus price target of $7.41.

UWM Trading Down 2.5 %

UWMC opened at $6.12 on Tuesday. 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 firm has a market cap of $9.78 billion, a price-to-earnings ratio of -26.61 and a beta of 1.65. UWM has a 12 month low of $5.67 and a 12 month high of $9.74. The stock has a fifty day moving average price of $6.64 and a 200-day moving average price of $7.59.

UWM Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.54%. UWM’s dividend payout ratio (DPR) is -173.91%.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. The trade was a 87.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Institutional investors have recently bought and sold shares of the business. McAdam LLC boosted its holdings in shares of 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 boosted its holdings in UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock valued at $171,000 after purchasing an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in UWM by 8.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock worth $168,000 after purchasing an additional 1,991 shares during the period. CWM LLC grew its position in UWM by 96.4% during 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. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of UWM by 5.9% in 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 during the period. 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.