Brokerages Set UWM Holdings Co. (NYSE:UWMC) Target Price at $7.39

UWM Holdings Co. (NYSE:UWMC) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $7.25.

UWMC has been the subject of several analyst reports. The Goldman Sachs Group decreased 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. Wedbush reissued a “neutral” rating and set a $6.50 price target on shares of UWM in a research report on Monday, March 3rd. Morgan Stanley decreased their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised shares of UWM from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $6.50 to $7.50 in a research report on Monday, March 3rd.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently bought and sold shares of the business. HB Wealth Management LLC increased its holdings in UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock worth $82,000 after buying an additional 2,631 shares during the period. Sherbrooke Park Advisers LLC increased its holdings in UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after buying an additional 2,975 shares during the period. Mariner LLC increased its holdings in UWM by 5.1% in the 4th quarter. Mariner LLC now owns 64,455 shares of the company’s stock worth $378,000 after buying an additional 3,126 shares during the period. Victory Capital Management Inc. increased its holdings in UWM by 20.7% in the 4th quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock worth $119,000 after buying an additional 3,488 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in UWM by 13.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company’s stock worth $174,000 after buying an additional 3,524 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Stock Performance

UWMC stock opened at $6.40 on Friday. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of -27.81 and a beta of 1.64. The firm has a 50-day simple moving average of $6.14 and a two-hundred day simple moving average of $6.88. UWM has a one year low of $5.31 and a one year high of $9.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million. On average, equities analysts forecast that UWM will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 6.25%. UWM’s dividend payout ratio (DPR) is presently 500.00%.

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.