UWM Holdings Corporation (NYSE:UWMC) Given Consensus Recommendation of “Hold” by Brokerages

UWM Holdings Corporation (NYSE:UWMC) has been given an average rating of “Hold” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.19.

Several analysts have recently weighed in on UWMC shares. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Morgan Stanley set a $5.00 target price on UWM in a report on Thursday, May 7th. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Jefferies Financial Group set a $4.40 target price on UWM in a report on Wednesday, February 25th. Finally, Barclays reduced their target price on UWM from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 6th.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $3.39, for a total transaction of $3,401,298.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 21,940,912 shares of company stock worth $80,571,523. 80.30% of the stock is owned by corporate insiders.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC raised its stake in UWM by 0.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 5,371,664 shares of the company’s stock valued at $19,445,000 after acquiring an additional 26,679 shares during the last quarter. Bank of America Corp DE raised its stake in UWM by 127.4% during the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after acquiring an additional 3,905,286 shares during the last quarter. Bull Harbor Capital LLC purchased a new stake in UWM during the 1st quarter valued at approximately $45,000. California State Teachers Retirement System raised its stake in UWM by 24.3% during the 1st quarter. California State Teachers Retirement System now owns 233,017 shares of the company’s stock valued at $844,000 after acquiring an additional 45,515 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in UWM during the 1st quarter valued at approximately $184,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Stock Down 1.1%

UWM stock opened at $2.20 on Friday. UWM has a fifty-two week low of $2.14 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $3.51 billion, a P/E ratio of 8.13 and a beta of 1.72. The stock has a 50-day simple moving average of $3.14 and a 200-day simple moving average of $4.15.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. UWM had a return on equity of 19.01% and a net margin of 1.92%.The business had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. Equities research analysts expect that UWM will post 0.38 earnings per share for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 annualized dividend and a yield of 18.2%. UWM’s dividend payout ratio is currently 148.15%.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.