UWM Holdings Co. (NYSE:UWMC) Receives $7.53 Consensus Price Target from Analysts

UWM Holdings Co. (NYSE:UWMC) has been assigned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.53.

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

Insider Activity

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

Institutional Trading of UWM

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC acquired a new stake in UWM in the 3rd quarter valued at approximately $3,833,000. Wilmington Savings Fund Society FSB bought a new position in shares of UWM during the 3rd quarter worth approximately $239,000. Barclays PLC raised its holdings in shares of UWM by 485.7% in the third quarter. Barclays PLC now owns 26,022 shares of the company’s stock valued at $221,000 after purchasing an additional 21,579 shares during the last quarter. Neo Ivy Capital Management acquired a new position in UWM during the third quarter worth $680,000. Finally, Geode Capital Management LLC grew its position in UWM by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after purchasing an additional 41,206 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Stock Up 2.3 %

Shares of NYSE UWMC opened at $6.56 on Friday. UWM has a 1 year low of $5.42 and a 1 year high of $9.74. The firm’s 50-day moving average is $7.01 and its 200-day moving average is $7.63. 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 capitalization of $10.48 billion, a PE ratio of -28.52 and a beta of 1.67.

UWM Announces Dividend

The business 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s 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.