UWM (NYSE:UWMC) Price Target Raised to $4.75

UWM (NYSE:UWMC) had its price target increased by UBS Group from $4.50 to $4.75 in a research report released on Thursday, Benzinga reports. The brokerage currently has a sell rating on the stock.

Several other analysts have also recently weighed in on the stock. BTIG Research increased their price target on shares of UWM from $8.00 to $10.00 and gave the company a buy rating in a research note on Tuesday, August 6th. The Goldman Sachs Group increased their price target on shares of UWM from $7.50 to $8.50 and gave the company a neutral rating in a research note on Thursday, August 8th. Barclays increased their price target on shares of UWM from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday, July 9th. Wedbush increased their price target on shares of UWM from $7.00 to $8.50 and gave the company a neutral rating in a research note on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of UWM from $7.00 to $8.00 and gave the stock a market perform rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $7.39.

UWM Stock Down 1.7 %

Shares of NYSE UWMC opened at $8.79 on Thursday. UWM has a 12-month low of $4.49 and a 12-month high of $9.74. The stock has a market cap of $840.13 million, a PE ratio of 293.00 and a beta of 1.63. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $8.33 and a 200 day moving average of $7.38.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same period in the previous year, the company posted $0.11 earnings per share. As a group, sell-side analysts predict that UWM will post 0.28 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 4.55%. UWM’s dividend payout ratio is currently 1,333.33%.

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares in the company, valued at approximately $1,562,547.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 94.11% of the company’s stock.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in UWM by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock worth $15,202,000 after buying an additional 81,799 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. Azora Capital LP purchased a new stake in shares of UWM in the 4th quarter valued at approximately $6,705,000. Bank of New York Mellon Corp increased its position in shares of UWM by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock valued at $6,294,000 after purchasing an additional 37,190 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after purchasing an additional 67,383 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.