UWM Holdings Corporation (NYSE:UWMC) Receives $6.54 Consensus Target Price from Brokerages

UWM Holdings Corporation (NYSE:UWMC) has received a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $6.5357.

Several brokerages have recently commented on UWMC. BTIG Research reiterated a “buy” rating and set a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. Barclays upped their price objective on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Morgan Stanley lowered shares of UWM from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $4.50 to $6.50 in a research note on Monday, September 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Finally, UBS Group boosted their price target on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th.

UWM Price Performance

Shares of UWMC opened at $5.78 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.45 and a current ratio of 1.45. The company’s fifty day simple moving average is $5.56 and its 200 day simple moving average is $5.10. UWM has a 1-year low of $3.80 and a 1-year high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a negative return on equity of 6.81% and a net margin of 0.61%.The firm had revenue of $151.14 million for the quarter, compared to analyst estimates of $651.51 million. As a group, analysts expect that UWM will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.9%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 612,287 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $5.71, for a total transaction of $3,496,158.77. Following the transaction, the chief executive officer directly owned 8,016,982 shares of the company’s stock, valued at approximately $45,776,967.22. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 21,348,811 shares of company stock valued at $123,446,643. 87.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after acquiring an additional 4,091 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of UWM during the 3rd quarter valued at approximately $38,000. Raymond James Financial Inc. acquired a new position in UWM during the 2nd quarter worth approximately $35,000. Finally, Quarry LP bought a new position in UWM in the 1st quarter valued at approximately $53,000. 53.59% of the stock is owned by institutional investors.

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.