Brokerages Set UWM Holdings Co. (NYSE:UWMC) PT at $6.86

UWM Holdings Co. (NYSE:UWMC - Get Free Report) has been given an average recommendation of "Hold" by the seven research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.86.

Several analysts have recently commented on the stock. Wedbush reaffirmed a "neutral" rating and issued a $6.50 price objective on shares of UWM in a report on Monday, March 3rd. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and lowered their price target for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price target on UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price objective on UWM from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th.

Institutional Trading of UWM

Several institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC grew its holdings in shares of UWM by 37.0% during the fourth quarter. Bleakley Financial Group LLC now owns 39,723 shares of the company's stock worth $233,000 after buying an additional 10,734 shares in the last quarter. Salzhauer Michael purchased a new position in UWM in the fourth quarter worth approximately $880,000. Allspring Global Investments Holdings LLC increased its position in shares of UWM by 103.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 57,085 shares of the company's stock worth $322,000 after purchasing an additional 29,042 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of UWM in the 4th quarter valued at approximately $77,000. Finally, Ieq Capital LLC raised its position in UWM by 273.3% in the fourth quarter. Ieq Capital LLC now owns 38,679 shares of the company's stock valued at $227,000 after purchasing an additional 28,319 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Stock Performance

UWMC traded up $0.09 on Tuesday, reaching $4.33. 3,114,427 shares of the stock were exchanged, compared to its average volume of 3,358,631. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company's 50-day moving average price is $4.41 and its 200 day moving average price is $5.50. The firm has a market capitalization of $6.92 billion, a PE ratio of -18.80 and a beta of 1.70. UWM has a fifty-two week low of $3.89 and a fifty-two week high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analysts' expectations of $558.80 million. As a group, sell-side analysts forecast that UWM will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.25%. UWM's dividend payout ratio (DPR) is -307.69%.

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.