UWM Holdings Co. (NYSE:UWMC) Given Consensus Recommendation of “Reduce” by Analysts

UWM Holdings Co. (NYSE:UWMC) has been assigned an average recommendation of “Reduce” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.29.

A number of analysts have commented on UWMC shares. Barclays boosted their price target on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wedbush boosted their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, BTIG Research lifted their price objective on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th.

UWM Stock Performance

NYSE:UWMC opened at $9.25 on Wednesday. The company has a fifty day moving average of $7.77 and a 200-day moving average of $7.17. The firm has a market capitalization of $884.10 million, a P/E ratio of 308.33 and a beta of 1.63. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. UWM has a twelve month low of $4.49 and a twelve month high of $9.43.

UWM (NYSE:UWMC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same period in the prior year, the company earned $0.11 EPS. As a group, sell-side analysts anticipate that UWM will post 0.28 EPS for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.32%. The ex-dividend date is Thursday, September 19th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Institutional Investors Weigh In On UWM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd lifted its holdings in shares of UWM by 124.3% in the first quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock worth $397,000 after buying an additional 30,361 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in UWM by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after purchasing an additional 3,207 shares in the last quarter. SG Americas Securities LLC raised its stake in UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Azora Capital LP purchased a new stake in UWM in the fourth quarter valued at approximately $6,705,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in UWM by 2.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 277,580 shares of the company’s stock valued at $1,985,000 after purchasing an additional 5,478 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.