UWM Holdings Co. (NYSE:UWMC) Given Average Rating of “Hold” by Brokerages

UWM Holdings Co. (NYSE:UWMC) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $7.28.

A number of research analysts have recently weighed in on the stock. Morgan Stanley reduced their target price 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. Barclays raised 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 research report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price target on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. The Goldman Sachs Group decreased their price objective on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, UBS Group upped their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th.

UWM Price Performance

UWMC opened at $5.88 on Tuesday. The firm has a market cap of $9.40 billion, a P/E ratio of -25.57 and a beta of 1.65. 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 has a fifty-two week low of $5.44 and a fifty-two week high of $9.74. The firm has a 50-day moving average of $6.40 and a 200 day moving average of $7.51.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s payout ratio is presently -173.91%.

Institutional Investors Weigh In On UWM

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

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.