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

Shares of UWM Holdings Co. (NYSE:UWMC - Get Free Report) have received a consensus recommendation of "Hold" from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.41.

A number of equities analysts recently weighed in on the company. Barclays raised UWM from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. The Goldman Sachs Group dropped their target price on shares of UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price target on shares of UWM from $9.00 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, December 10th. Morgan Stanley started coverage on shares of UWM in a research report on Tuesday, November 5th. They set an "equal weight" rating and a $7.50 price objective on the stock. Finally, UBS Group increased their target price on UWM from $4.50 to $4.75 and gave the company a "sell" rating in a report on Thursday, September 5th.

Institutional Investors Weigh In On UWM

Large investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company's stock worth $87,064,000 after purchasing an additional 2,010,985 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in UWM during the 3rd quarter worth $21,797,000. Renaissance Technologies LLC grew its position in shares of UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company's stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. State Street Corp increased its stake in shares of UWM by 5.0% in the third quarter. State Street Corp now owns 1,592,084 shares of the company's stock worth $13,723,000 after purchasing an additional 76,221 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock worth $13,183,000 after purchasing an additional 41,206 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

UWM Price Performance

Shares of NYSE UWMC traded down $0.02 during mid-day trading on Tuesday, reaching $5.95. The company had a trading volume of 3,092,678 shares, compared to its average volume of 2,046,077. The company has a 50-day moving average price of $6.49 and a two-hundred day moving average price of $7.55. The stock has a market cap of $9.51 billion, a PE ratio of -25.87 and a beta of 1.65. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 1-year low of $5.67 and a 1-year high of $9.74.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Thursday, December 19th. UWM's dividend payout ratio (DPR) is presently -173.91%.

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.