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

UWM Holdings Co. (NYSE:UWMC - Get Free Report) has been given a consensus recommendation of "Hold" by the eight analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $7.53.

A number of equities analysts have recently issued reports on UWMC shares. Keefe, Bruyette & Woods increased their price objective on shares of UWM from $7.00 to $8.00 and gave the company a "market perform" rating in a research note on Wednesday, August 7th. Morgan Stanley started coverage on UWM in a report on Tuesday, November 5th. They issued an "equal weight" rating and a $7.50 price target on the stock. UBS Group upped their price objective on UWM from $4.50 to $4.75 and gave the stock a "sell" rating in a research note on Thursday, September 5th. Wedbush lifted their target price on UWM from $7.00 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Finally, Barclays raised shares of UWM from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 1,200,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now owns 171,520 shares of the company's stock, valued at $1,449,344. This trade represents a 87.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 94.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UWM

A number of large investors have recently added to or reduced their stakes in UWMC. Price T Rowe Associates Inc. MD boosted its stake in UWM by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company's stock worth $421,000 after purchasing an additional 3,207 shares during the last quarter. Squarepoint Ops LLC grew its stake in UWM by 24.5% during the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company's stock valued at $2,372,000 after acquiring an additional 67,383 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in shares of UWM by 124.3% during the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company's stock worth $397,000 after purchasing an additional 30,361 shares during the last quarter. SG Americas Securities LLC grew its position in shares of UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company's stock valued at $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings 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. 53.59% of the stock is currently owned by institutional investors and hedge funds.

UWM Stock Up 2.2 %

Shares of UWMC stock traded up $0.14 on Friday, hitting $6.16. The stock had a trading volume of 2,083,927 shares, compared to its average volume of 1,989,105. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a one year low of $5.42 and a one year high of $9.74. The business has a 50 day moving average price of $7.23 and a 200 day moving average price of $7.65. The company has a market cap of $9.84 billion, a PE ratio of -26.21 and a beta of 1.67.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be given a $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.50%. UWM's dividend payout ratio is currently -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.