Brokerages Set UWM Holdings Co. (NYSE:UWMC) PT at $7.53

Shares of UWM Holdings Co. (NYSE:UWMC) have earned a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.53.

Several analysts recently commented on UWMC shares. Keefe, Bruyette & Woods increased their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Morgan Stanley began coverage on shares of UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target for the company. Wedbush upped their price objective on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, BTIG Research upped their price target on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th.

Insider Activity

In other news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. This represents a 87.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its stake in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of UWM in the second quarter worth $52,000. Orion Portfolio Solutions LLC bought a new stake in shares of UWM during the 3rd quarter valued at $85,000. Xponance Inc. purchased a new position in shares of UWM during the 2nd quarter valued at $76,000. Finally, Intech Investment Management LLC bought a new position in UWM in the 2nd quarter worth $85,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Performance

UWM stock opened at $6.42 on Friday. 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 business’s fifty day simple moving average is $7.11 and its two-hundred day simple moving average is $7.65. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of -27.89 and a beta of 1.67.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.24%. UWM’s dividend payout ratio is currently -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.