UWM Holdings Corporation (NYSE:UWMC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• UWM Holdings Corporation has received a consensus rating of "Hold" from six analysts, with an average target price of $5.54.
• CEO Ishbia Mat sold over 400,000 shares of the company at an average price of $5.60, leading to a 10.82% decrease in his ownership.
• The company recently announced a quarterly dividend of $0.10 per share, which translates to an annualized yield of 6.9%.

Shares of UWM Holdings Corporation (NYSE:UWMC - Get Free Report) have received an average rating of "Hold" from the six analysts that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.5417.

UWMC has been the subject of several research analyst reports. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group lowered their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $5.60, for a total value of $2,240,201.60. Following the completion of the sale, the chief executive officer owned 3,298,380 shares of the company's stock, valued at $18,470,928. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 10,800,972 shares of company stock valued at $47,652,288. 87.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UWM

A number of hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its position in UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock worth $2,229,000 after acquiring an additional 54,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of UWM by 112.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock worth $648,000 after purchasing an additional 62,862 shares during the period. Wells Fargo & Company MN increased its position in shares of UWM by 9.9% during the 4th quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock valued at $381,000 after purchasing an additional 5,849 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in UWM during the 1st quarter valued at $65,000. Finally, GAMMA Investing LLC raised its holdings in UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after buying an additional 2,958 shares during the period. Institutional investors own 53.59% of the company's stock.

UWM Price Performance

Shares of NYSE UWMC opened at $5.8150 on Friday. The firm has a market capitalization of $9.30 billion, a P/E ratio of -116.30 and a beta of 1.70. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock's 50-day simple moving average is $4.45 and its two-hundred day simple moving average is $4.90. UWM has a twelve month low of $3.80 and a twelve month high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm 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 analysts anticipate that UWM will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.9%. UWM's payout ratio is presently -800.00%.

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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