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

Shares of UWM Holdings Co. (NYSE:UWMC) have received an average rating of “Hold” from the eight ratings firms that are 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 assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.28.

Several analysts have recently commented on UWMC shares. Morgan Stanley lowered their price target on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. The Goldman Sachs Group lowered their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods decreased their target price on shares of UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Finally, UBS Group boosted their price target on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares in the last quarter. Blue Trust Inc. purchased a new stake in UWM during the second quarter worth approximately $119,000. McAdam LLC increased its position in shares of UWM by 16.0% in the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock worth $88,000 after acquiring an additional 1,758 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of UWM by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock valued at $6,294,000 after acquiring an additional 37,190 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of UWM during the 2nd quarter valued at $52,000. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Price Performance

UWM stock opened at $5.74 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $6.40 and its 200 day simple moving average is $7.51. UWM has a 52 week low of $5.44 and a 52 week high of $9.74. The firm has a market capitalization of $9.17 billion, a PE ratio of -24.96 and a beta of 1.65.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.97%. 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.