UWM Holdings Corporation (NYSE:UWMC) Given Consensus Rating of “Hold” by Analysts

UWM Holdings Corporation (NYSE:UWMC) has earned a consensus rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.89.

UWMC has been the subject of a number of recent analyst reports. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $4.50 to $3.75 in a research note on Thursday, June 25th. BTIG Research restated a “buy” rating and issued a $4.00 price target on shares of UWM in a report on Wednesday, June 24th. Finally, Stephens assumed coverage on shares of UWM in a research note on Friday, April 24th. They set an “equal weight” rating and a $4.00 price objective for the company.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $3.66, for a total transaction of $3,672,198.78. Following the transaction, the chief executive officer owned 1,003,333 shares of the company’s stock, valued at $3,672,198.78. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,935,172 shares of company stock worth $43,800,428 over the last ninety days. Corporate insiders own 80.30% of the company’s stock.

Institutional Trading of UWM

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in UWM by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after acquiring an additional 1,676,754 shares during the last quarter. Azora Capital LP increased its stake in UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after acquiring an additional 7,881,586 shares during the last quarter. Brandes Investment Partners LP acquired a new stake in UWM during the fourth quarter worth about $45,867,000. Bank of America Corp DE raised its holdings in shares of UWM by 127.4% in the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock worth $25,231,000 after purchasing an additional 3,905,286 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Stock Up 1.4%

Shares of NYSE UWMC opened at $2.03 on Wednesday. The firm has a market cap of $3.25 billion, a P/E ratio of 7.51 and a beta of 1.76. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.52 and a current ratio of 1.52. UWM has a 1 year low of $1.98 and a 1 year high of $7.14. The firm’s 50 day moving average price is $2.60 and its 200 day moving average price is $3.76.

UWM (NYSE:UWMC) last issued its quarterly 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 company had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. As a group, sell-side analysts anticipate that UWM will post 0.36 earnings per share for the current year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 19.7%. The ex-dividend date was Thursday, June 18th. UWM’s payout ratio is presently 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.