Brokerages Set UWM Holdings Corporation (NYSE:UWMC) PT at $6.56

UWM Holdings Corporation (NYSE:UWMC) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.5625.

UWMC has been the topic of a number of analyst reports. UBS Group raised their price target on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of UWM in a report on Monday, September 22nd. Wall Street Zen cut UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods raised their price objective 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.

UWM Stock Performance

Shares of UWM stock opened at $4.42 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. UWM has a 52-week low of $3.80 and a 52-week high of $7.14. The company has a 50 day moving average of $5.26 and a 200 day moving average of $5.21.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $151.14 million during the quarter, compared to analyst estimates of $651.51 million. UWM had a net margin of 0.61% and a negative return on equity of 6.81%. On average, research analysts predict that UWM will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

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

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $4.57, for a total transaction of $2,892,234.18. Following the transaction, the chief executive officer owned 2,245,619 shares of the company’s stock, valued at approximately $10,262,478.83. This trade represents a 21.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,614,603 shares of company stock valued at $110,268,442 in the last three months. Corporate insiders own 87.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UWMC. Integrated Investment Consultants LLC acquired a new position in UWM during the third quarter worth approximately $32,630,000. 683 Capital Management LLC purchased a new position in shares of UWM during the second quarter worth approximately $19,872,000. Balyasny Asset Management L.P. increased its holdings 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 acquiring an additional 3,224,806 shares during the period. Two Sigma Investments LP increased its holdings in shares of UWM by 165.5% in the 3rd quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock valued at $30,382,000 after acquiring an additional 3,109,591 shares during the period. Finally, Holocene Advisors LP raised its position in UWM by 1,986.0% in the 3rd quarter. Holocene Advisors LP now owns 3,231,243 shares of the company’s stock valued at $19,678,000 after purchasing an additional 3,076,340 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.