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

Key Points

• UWM Holdings Corporation (NYSE:UWMC) has received a consensus rating of “Hold” from nine brokerages, with one sell recommendation, six holds, and two buys.
• CEO Ishbia Mat recently sold 596,356 shares of the company’s stock, resulting in an 8.17% decrease of his position, with insiders owning 94.11% of the stock.
• UWM announced a quarterly dividend of $0.10 per share, reflecting an annualized yield of 7.5%, despite a payout ratio of -800.00%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) has been given a consensus rating of "Hold" by the nine ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.4643.

UWMC has been the topic of several research reports. Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 7th. The Goldman Sachs Group reduced their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered UWM from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Barclays boosted their price objective on UWM from $6.00 to $7.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Finally, BTIG Research restated a "buy" rating and set a $10.00 price objective on shares of UWM in a research report on Monday, September 22nd.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 596,356 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $6.84, for a total transaction of $4,079,075.04. Following the completion of the transaction, the chief executive officer owned 6,705,072 shares in the company, valued at $45,862,692.48. The trade was a 8.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 16,560,836 shares of company stock worth $91,993,533. Insiders own 94.11% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UWMC. 683 Capital Management LLC acquired a new position in UWM during the 2nd quarter worth $19,872,000. Balyasny Asset Management L.P. boosted its position in UWM by 116.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock worth $24,803,000 after acquiring an additional 3,224,806 shares during the period. AQR Capital Management LLC boosted its position in 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. Azora Capital LP acquired a new position in UWM during the 2nd quarter worth $9,032,000. Finally, Bank of America Corp DE boosted its position in UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock worth $15,561,000 after acquiring an additional 1,819,129 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

UWM Stock Performance

UWMC stock opened at $5.34 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The firm has a market cap of $8.53 billion, a P/E ratio of -106.70 and a beta of 1.79. UWM has a 12-month low of $3.80 and a 12-month high of $7.60. The stock's 50 day simple moving average is $5.78 and its 200 day simple moving average is $4.87.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. The business had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. As a group, equities research analysts predict that UWM will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 7.5%. UWM's payout ratio is currently -800.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.