Brokerages Set UWM Holdings Corporation (NYSE:UWMC) Price Target at $5.79

UWM Holdings Corporation (NYSE:UWMC) has received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.79.

A number of equities analysts have recently issued reports on the company. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings raised UWM from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $5.50 price target on shares of UWM in a research report on Thursday, May 7th. Barclays reduced their price target on UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Finally, Morgan Stanley set a $5.00 price target on UWM in a research report on Thursday, May 7th.

Insider Activity

In related news, CEO Ishbia Mat sold 1,003,333 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $3.57, for a total value of $3,581,898.81. Following the transaction, the chief executive officer directly owned 2,995,754 shares of the company’s stock, valued at $10,694,841.78. This represents a 25.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 28,107,004 shares of company stock valued at $104,100,787. 80.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UWM

Several hedge funds have recently made changes to their positions in UWMC. Allworth Financial LP increased its position in shares of UWM by 5,681.9% in the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after acquiring an additional 4,091 shares during the period. Raymond James Financial Inc. acquired a new position in shares of UWM in the 2nd quarter valued at $35,000. Farther Finance Advisors LLC increased its position in shares of UWM by 1,410.7% in the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after acquiring an additional 8,027 shares during the period. Advisory Services Network LLC acquired a new position in shares of UWM in the 3rd quarter valued at $38,000. Finally, Fifth Third Bancorp acquired a new position in shares of UWM in the 1st quarter valued at $41,000. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Stock Down 2.7%

UWM stock opened at $3.06 on Tuesday. The business has a fifty day moving average of $3.48 and a two-hundred day moving average of $4.45. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The firm has a market cap of $4.89 billion, a P/E ratio of 11.32 and a beta of 1.78. UWM has a twelve month low of $2.83 and a twelve month high of $7.14.

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

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 13.1%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s dividend 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.