Analysts Set UWM Holdings Corporation (NYSE:UWMC) PT at $6.49

UWM Holdings Corporation (NYSE:UWMC) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.4875.

UWMC has been the subject of several research reports. Compass Point initiated coverage on shares of UWM in a research report on Tuesday, March 10th. They issued a “buy” rating and a $8.50 price objective for the company. Jefferies Financial Group set a $4.40 target price on shares of UWM in a research report on Wednesday, February 25th. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of UWM in a research note on Tuesday, March 10th. Barclays lowered their price target on UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Finally, The Goldman Sachs Group set a $5.00 price objective on UWM in a research note on Tuesday, January 6th.

UWM Stock Down 2.3%

NYSE:UWMC opened at $3.66 on Thursday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 60.92 and a beta of 1.90. UWM has a twelve month low of $3.62 and a twelve month high of $7.14. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. The stock has a fifty day simple moving average of $4.88 and a 200-day simple moving average of $5.34.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $945.25 million during the quarter, compared to the consensus estimate of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. Analysts anticipate that UWM will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio is currently 666.67%.

Insider Activity

In other news, CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $5.46, for a total transaction of $3,455,492.04. Following the transaction, the chief executive officer owned 1,251,131 shares in the company, valued at approximately $6,831,175.26. This trade represents a 33.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 19,205,826 shares of company stock worth $93,166,931. 87.50% of the stock is currently owned by corporate insiders.

Institutional Trading of UWM

A number of hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC grew its holdings in UWM by 258.0% during the 4th quarter. Corient Private Wealth LLC now owns 103,471 shares of the company’s stock worth $453,000 after acquiring an additional 74,565 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of UWM by 1,570.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,191 shares of the company’s stock valued at $53,000 after purchasing an additional 11,461 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in shares of UWM in the 4th quarter valued at about $47,000. Virtu Financial LLC purchased a new stake in shares of UWM in the 4th quarter worth approximately $1,799,000. Finally, Invesco Ltd. lifted its position in shares of UWM by 504.1% in the 4th quarter. Invesco Ltd. now owns 1,498,979 shares of the company’s stock worth $6,566,000 after purchasing an additional 1,250,845 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.