Brokerages Set UWM Holdings Corporation (NYSE:UWMC) PT at $5.54

Shares of UWM Holdings Corporation (NYSE:UWMC) have received an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.5417.

UWMC has been the topic of a number of recent research reports. Barclays raised UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price on the stock in a report on Tuesday, July 8th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. The Goldman Sachs Group reduced their price target on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $5.68, for a total value of $2,272,204.48. Following the completion of the sale, the chief executive officer owned 1,298,200 shares in the company, valued at $7,373,776. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 12,001,080 shares of company stock valued at $54,528,907 in the last three months. Corporate insiders own 87.50% of the company’s stock.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently bought and sold shares of UWMC. GAMMA Investing LLC grew its position in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after purchasing an additional 2,958 shares in the last quarter. Signaturefd LLC grew its position in shares of UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after purchasing an additional 4,693 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of UWM during the second quarter worth about $35,000. Quarry LP purchased a new stake in shares of UWM during the first quarter worth about $53,000. Finally, Focus Partners Wealth purchased a new stake in shares of UWM during the first quarter worth about $55,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Stock Up 1.9%

UWMC stock opened at $5.69 on Friday. UWM has a fifty-two week low of $3.80 and a fifty-two week high of $9.45. The business’s 50-day moving average is $4.62 and its two-hundred day moving average is $4.88. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $9.09 billion, a price-to-earnings ratio of -113.70 and a beta of 1.70.

UWM (NYSE:UWMC) last posted its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The company had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. As a group, analysts forecast that UWM will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 7.0%. UWM’s dividend payout ratio is presently -800.00%.

About UWM

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.