UWM Holdings Co. (NYSE:UWMC) Receives $6.86 Consensus Price Target from Brokerages

UWM Holdings Co. (NYSE:UWMC - Get Free Report) has earned an average rating of "Hold" from the seven research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.86.

UWMC has been the subject of several recent analyst reports. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on shares of UWM from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Wedbush restated a "neutral" rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd.

Institutional Investors Weigh In On UWM

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after acquiring an additional 2,958 shares in the last quarter. Signaturefd LLC lifted its position in shares of UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after acquiring an additional 4,693 shares in the last quarter. Quarry LP purchased a new stake in shares of UWM in the 1st quarter valued at approximately $53,000. Focus Partners Wealth purchased a new stake in UWM in the 1st quarter worth approximately $55,000. Finally, Independent Advisor Alliance purchased a new stake in UWM in the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

UWM Price Performance

Shares of UWM stock traded down $0.28 on Friday, hitting $3.97. The company had a trading volume of 5,539,733 shares, compared to its average volume of 3,147,851. The business has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $5.68. 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 has a market cap of $6.34 billion, a PE ratio of -17.24 and a beta of 1.75. UWM has a 52 week low of $3.93 and a 52 week high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). The firm had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. Research analysts expect that UWM will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date is Wednesday, June 18th. UWM's payout ratio 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.