UWM (NYSE:UWMC) Upgraded to "Overweight" at Barclays

Barclays upgraded shares of UWM (NYSE:UWMC - Free Report) from an equal weight rating to an overweight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $6.00 target price on the stock.

A number of other research analysts also recently weighed in on the company. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and decreased their price target for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their target price on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their price target on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $6.46.

UWM Stock Up 4.0%

UWMC traded up $0.16 during trading hours on Tuesday, hitting $4.15. 6,718,917 shares of the company's stock were exchanged, compared to its average volume of 3,839,836. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -31.92 and a beta of 1.68. UWM has a 1-year low of $3.80 and a 1-year high of $9.74. The stock's 50-day moving average is $4.22 and its two-hundred day moving average is $5.21. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. Sell-side analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.64%. UWM's dividend payout ratio is currently -307.69%.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $4.05, for a total value of $1,620,145.80. Following the transaction, the chief executive officer owned 3,499,532 shares of the company's stock, valued at approximately $14,173,104.60. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,200,288 shares of company stock worth $13,149,183 in the last three months. Company insiders own 94.11% of the company's stock.

Institutional Trading of UWM

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in UWM by 94.6% during the 2nd quarter. Parallel Advisors LLC now owns 29,533 shares of the company's stock worth $122,000 after buying an additional 14,358 shares during the period. Inspire Investing LLC increased its position in UWM by 14.7% during the first quarter. Inspire Investing LLC now owns 216,640 shares of the company's stock worth $1,183,000 after acquiring an additional 27,751 shares during the period. Focus Partners Wealth bought a new position in UWM during the first quarter worth about $55,000. Dynamic Technology Lab Private Ltd acquired a new stake in UWM in the 1st quarter worth about $92,000. Finally, AQR Capital Management LLC boosted its holdings in UWM by 1,144.7% in the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after purchasing an additional 2,296,205 shares during the period. 53.59% of the stock is currently owned by institutional investors.

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.