Analysts Set UWM Holdings Corporation (NYSE:UWMC) Price Target at $6.56

UWM Holdings Corporation (NYSE:UWMC) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.5625.

UWMC has been the topic of a number of recent research reports. BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of UWM in a report on Monday, September 22nd. Morgan Stanley set a $6.00 price target on UWM in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price target on shares of UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Wall Street Zen cut shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Finally, Barclays upped their target price on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th.

Insider Activity

In related news, CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction on Monday, December 29th. The stock was sold at an average price of $4.42, for a total transaction of $2,797,303.08. Following the completion of the sale, the chief executive officer owned 1,612,745 shares of the company’s stock, valued at approximately $7,128,332.90. This trade represents a 28.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,541,567 shares of company stock valued at $111,986,987 in the last quarter. Company insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in shares of UWM in the 2nd quarter valued at $792,000. Oak Thistle LLC bought a new stake in UWM in the third quarter worth $1,337,000. AGF Management Ltd. bought a new stake in UWM in the second quarter worth $3,072,000. 683 Capital Management LLC purchased a new stake in UWM during the second quarter valued at about $19,872,000. Finally, Capital Fund Management S.A. grew its stake in shares of UWM by 260.9% during the second quarter. Capital Fund Management S.A. now owns 573,583 shares of the company’s stock valued at $2,375,000 after buying an additional 414,667 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

UWM Stock Down 4.2%

UWMC opened at $4.40 on Friday. UWM has a 12 month low of $3.80 and a 12 month high of $7.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40. The company has a 50 day moving average of $5.36 and a 200 day moving average of $5.22.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The business had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. Equities analysts expect that UWM will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 annualized dividend and a dividend yield of 9.1%.

About UWM

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.