Analysts Set UWM Holdings Co. (NYSE:UWMC) Target Price at $7.53

Shares of UWM Holdings Co. (NYSE:UWMC) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.53.

UWMC has been the topic of a number of research analyst reports. Morgan Stanley started 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. Keefe, Bruyette & Woods increased their price target on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lowered 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. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, Wedbush boosted their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

UWM Price Performance

UWMC stock opened at $6.15 on Friday. The company has a market capitalization of $9.83 billion, a PE ratio of -26.74 and a beta of 1.67. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $7.17 and its two-hundred day moving average is $7.65. UWM has a 52-week low of $5.42 and a 52-week high of $9.74.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio (DPR) is -173.91%.

Insider Activity

In related news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. This represents a 87.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Large investors have recently bought and sold shares of the stock. FMR LLC lifted its position in UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after purchasing an additional 2,010,985 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of UWM in the 3rd quarter worth $21,797,000. Renaissance Technologies LLC lifted its holdings in shares of UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after buying an additional 199,900 shares during the period. State Street Corp boosted its stake in UWM by 5.0% during the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after buying an additional 76,221 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in UWM by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after acquiring an additional 41,206 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.