UWM Holdings Corporation (NYSE:UWMC) Receives Average Rating of “Hold” from Analysts

Shares of UWM Holdings Corporation (NYSE:UWMC) have been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.5357.

A number of analysts have issued reports on UWMC shares. UBS Group lifted their price target on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of UWM in a research report on Monday, September 22nd. Barclays increased their price target on UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Morgan Stanley downgraded UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.50 to $6.50 in a research note on Monday, September 29th. Finally, Wall Street Zen downgraded UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th.

UWM Stock Down 0.1%

NYSE UWMC opened at $5.84 on Tuesday. UWM has a 12 month low of $3.80 and a 12 month high of $7.14. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $9.35 billion, a PE ratio of -116.84 and a beta of 1.79. The stock’s 50 day moving average is $5.60 and its 200 day moving average is $5.08.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The company had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. Research analysts predict that UWM will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.8%.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction on Monday, September 29th. The shares were sold at an average price of $6.11, for a total value of $3,643,735.16. Following the completion of the transaction, the chief executive officer directly owned 741,512 shares of the company’s stock, valued at $4,530,638.32. This trade represents a 44.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 20,524,273 shares of company stock worth $118,723,429 in the last three months. 87.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH bought a new stake in UWM during the first quarter worth approximately $133,000. Cetera Investment Advisers lifted its stake in shares of UWM by 8.1% in the 1st quarter. Cetera Investment Advisers now owns 93,722 shares of the company’s stock valued at $512,000 after purchasing an additional 6,988 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of UWM by 42.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company’s stock worth $141,000 after purchasing an additional 7,687 shares during the period. Swiss National Bank increased its position in shares of UWM by 38.6% during the 1st quarter. Swiss National Bank now owns 244,700 shares of the company’s stock valued at $1,336,000 after purchasing an additional 68,100 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of UWM by 19.0% in the 1st quarter. Invesco Ltd. now owns 130,400 shares of the company’s stock worth $712,000 after acquiring an additional 20,816 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

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.