UWM Holdings Corporation (NYSE:UWMC) Given Average Rating of "Hold" by Brokerages

Shares of UWM Holdings Corporation (NYSE:UWMC - Get Free Report) have received a consensus rating of "Hold" from the seven research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.75.

A number of research analysts have recently issued reports on the company. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and decreased their target price for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. The Goldman Sachs Group decreased their target price on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their target price on UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $4.13, for a total value of $1,652,148.68. Following the completion of the sale, the chief executive officer owned 899,676 shares in the company, valued at approximately $3,715,661.88. This represents a 30.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 2,400,216 shares of company stock worth $9,800,882. Insiders own 87.50% of the company's stock.

Institutional Trading of UWM

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of UWM by 37.6% during the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock worth $69,060,000 after acquiring an additional 3,212,081 shares during the period. First Trust Advisors LP raised its holdings in shares of UWM by 886.9% during the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after acquiring an additional 3,349,779 shares during the period. AQR Capital Management LLC raised its holdings in shares of UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the period. Basswood Capital Management L.L.C. purchased a new position in shares of UWM during the 4th quarter worth $6,602,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of UWM by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock worth $6,386,000 after acquiring an additional 147,459 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Trading Down 0.5%

UWM stock opened at $4.27 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87. UWM has a 12 month low of $3.80 and a 12 month high of $9.74. The stock's 50 day simple moving average is $4.23 and its two-hundred day simple moving average is $5.23. The firm has a market cap of $6.83 billion, a PE ratio of -32.85 and a beta of 1.68.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. The company had revenue of $613.37 million during the quarter, compared to analysts' expectations of $558.80 million. Analysts anticipate that UWM will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.37%. UWM's dividend payout ratio (DPR) is presently -307.69%.

About UWM

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.

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