Analysts Set UWM Holdings Co. (NYSE:UWMC) Target Price at $7.68

Shares of UWM Holdings Co. (NYSE:UWMC) have received an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $7.68.

UWMC has been the topic of a number of research analyst reports. Wedbush boosted their price objective on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group boosted their price target on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods raised 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. The Goldman Sachs Group upped their target price on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, BTIG Research increased their price target on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The stock was 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 owns 171,520 shares in the company, valued at $1,449,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 94.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after acquiring an additional 226,819 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the last quarter. AQR Capital Management LLC grew its position in shares of UWM by 203.7% in the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after purchasing an additional 173,652 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of UWM by 334.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock valued at $1,557,000 after purchasing an additional 172,969 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in UWM by 366.1% during the third quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock worth $1,528,000 after buying an additional 140,830 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

UWM Trading Up 1.1 %

UWM stock opened at $6.61 on Monday. UWM has a one year low of $4.81 and a one year high of $9.74. The stock has a market cap of $632.00 million, a PE ratio of -330.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50-day moving average of $8.18 and a two-hundred day moving average of $7.68.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 business earned $0.11 EPS. On average, research analysts anticipate that UWM will post 0.26 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.05%. UWM’s payout ratio is -2,000.00%.

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.