Analysts Set UWM Holdings Corporation (NYSE:UWMC) Target Price at $6.53

UWM Holdings Corporation (NYSE:UWMC) has received an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.5313.

UWMC has been the subject of a number of recent research reports. The Goldman Sachs Group set a $5.00 target price on UWM in a research note on Tuesday, January 6th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price target on shares of UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a report on Thursday, December 18th. UBS Group boosted their price objective on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Jefferies Financial Group assumed coverage on shares of UWM in a research report on Friday, December 19th. They issued a “hold” rating and a $5.00 price objective for the company.

Insider Transactions at UWM

In other UWM news, CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $5.82, for a total value of $3,683,326.68. Following the transaction, the chief executive officer directly owned 5,952,509 shares of the company’s stock, valued at $34,643,602.38. This represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 19,677,517 shares of company stock worth $104,137,897. 87.50% of the stock is owned by insiders.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Investment Consultants LLC acquired a new stake in UWM in the third quarter valued at $32,630,000. 683 Capital Management LLC acquired a new stake in shares of UWM in the 2nd quarter valued at about $19,872,000. Balyasny Asset Management L.P. raised its stake 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 purchasing an additional 3,224,806 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of UWM by 165.5% during the third quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock worth $30,382,000 after purchasing an additional 3,109,591 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in UWM by 1,986.0% in the third quarter. Holocene Advisors LP now owns 3,231,243 shares of the company’s stock worth $19,678,000 after purchasing an additional 3,076,340 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

UWM Stock Down 0.4%

Shares of UWMC stock opened at $5.78 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40. UWM has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The firm’s 50 day moving average price is $5.22 and its two-hundred day moving average price is $5.34.

UWM (NYSE:UWMC) last announced its quarterly earnings results 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). UWM had a negative return on equity of 6.81% and a net margin of 0.61%.The business had revenue of $151.14 million for the quarter, compared to analysts’ expectations of $651.51 million. Research analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Thursday, December 18th.

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.