Analysts Set UWM Holdings Corporation (NYSE:UWMC) PT at $5.19

UWM Holdings Corporation (NYSE:UWMC) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.19.

A number of brokerages recently weighed in on UWMC. Weiss Ratings lowered shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $5.50 target price on shares of UWM in a research note on Thursday, May 7th. BTIG Research reiterated a “buy” rating and set a $4.00 target price on shares of UWM in a research note on Wednesday. Compass Point assumed coverage on shares of UWM in a research note on Tuesday, March 10th. They set a “buy” rating and a $8.50 target price for the company. Finally, Argus upgraded shares of UWM to a “hold” rating in a research note on Tuesday, March 31st.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $3.39, for a total transaction of $3,401,298.87. The sale was disclosed in a document filed 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. In the last ninety days, insiders have sold 19,939,764 shares of company stock worth $73,297,350. 80.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UWM

Hedge funds have recently modified their holdings of the business. Allworth Financial LP grew its position in shares of UWM by 5,681.9% during 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. bought a new stake in shares of UWM during the 2nd quarter valued at $35,000. Farther Finance Advisors LLC grew its position in shares of UWM by 1,410.7% during 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 bought a new stake in shares of UWM during the 3rd quarter valued at $38,000. Finally, Fifth Third Bancorp bought a new stake in shares of UWM during the 1st quarter valued at $41,000. Institutional investors own 53.59% of the company’s stock.

UWM Price Performance

Shares of NYSE UWMC opened at $2.02 on Friday. UWM has a twelve month low of $2.00 and a twelve month high of $7.14. The firm has a market cap of $3.23 billion, a P/E ratio of 7.46 and a beta of 1.72. The company has a 50 day moving average of $3.04 and a 200 day moving average of $4.06. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13.

UWM (NYSE:UWMC) last announced its quarterly earnings data 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. UWM had a net margin of 1.92% and a return on equity of 19.01%. The company had revenue of $901.43 million during the quarter, compared to analyst estimates of $709.85 million. As a group, research analysts expect that UWM will post 0.38 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently announced 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 is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 19.9%. UWM’s payout ratio is currently 148.15%.

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.