UWM Holdings Co. (NYSE:UWMC) Given Consensus Recommendation of "Hold" by Brokerages

UWM Holdings Co. (NYSE:UWMC - Get Free Report) has received an average rating of "Hold" from the seven analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.39.

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of UWM from $7.00 to $6.50 and set a "market perform" rating for the company in a research report on Friday, January 3rd. Morgan Stanley lowered their price objective on UWM from $7.50 to $6.50 and set an "equal weight" rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Finally, Barclays upgraded UWM from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th.

UWM Stock Down 3.5 %

UWMC stock traded down $0.20 during midday trading on Friday, hitting $5.48. 5,139,029 shares of the company's stock were exchanged, compared to its average volume of 5,476,588. The firm has a 50 day moving average price of $6.06 and a 200-day moving average price of $7.35. UWM has a 12-month low of $5.32 and a 12-month high of $9.74. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of -23.83 and a beta of 1.66. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.30%. The ex-dividend date was Thursday, December 19th. UWM's dividend payout ratio (DPR) is -173.91%.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently made changes to their positions in the business. FMR LLC grew its position in UWM by 24.5% in the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company's stock valued at $87,064,000 after buying an additional 2,010,985 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of UWM in the third quarter valued at approximately $21,797,000. Renaissance Technologies LLC boosted 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 acquiring an additional 199,900 shares in the last quarter. State Street Corp increased its stake in shares of UWM by 5.0% during the third quarter. State Street Corp now owns 1,592,084 shares of the company's stock valued at $13,723,000 after acquiring an additional 76,221 shares during the period. Finally, Geode Capital Management LLC raised its holdings in UWM by 2.7% during the third 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 in the last quarter. 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.