The Goldman Sachs Group Lowers UWM (NYSE:UWMC) Price Target to $5.25

UWM (NYSE:UWMC - Free Report) had its price objective decreased by The Goldman Sachs Group from $6.00 to $5.25 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

UWMC has been the subject of a number of other research reports. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and cut their target price for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, UWM currently has a consensus rating of "Hold" and a consensus price target of $6.75.

UWM Stock Down 0.5%

Shares of UWMC stock traded down $0.02 during trading hours on Wednesday, hitting $4.27. 4,908,584 shares of the company's stock traded hands, compared to its average volume of 3,795,678. The stock's fifty day simple moving average is $4.23 and its two-hundred day simple moving average is $5.23. UWM has a 12-month low of $3.80 and a 12-month high of $9.74. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -32.85 and a beta of 1.68. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share 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 the consensus estimate of $558.80 million. UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. On average, analysts expect that UWM will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. 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 currently -307.69%.

Insider Activity

In other news, CEO Ishbia Mat sold 400,036 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $4.13, for a total transaction of $1,652,148.68. Following the transaction, the chief executive officer directly owned 899,676 shares in the company, valued at approximately $3,715,661.88. This trade represents a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,400,216 shares of company stock worth $9,800,882 in the last 90 days. 87.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UWM

A number of hedge funds and other institutional investors have recently bought and sold shares of UWMC. GAMMA Investing LLC lifted its position in UWM by 101.8% during the first 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 during the last quarter. Signaturefd LLC raised its holdings in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after buying an additional 4,693 shares during the last quarter. Quarry LP purchased a new position in shares of UWM in the first quarter worth $53,000. Focus Partners Wealth purchased a new position in shares of UWM in the first quarter worth $55,000. Finally, Independent Advisor Alliance purchased a new position in shares of UWM in the first quarter worth $58,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

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.