UWM (NYSE:UWMC) Given New $6.75 Price Target at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) had its target price upped by Keefe, Bruyette & Woods from $6.50 to $6.75 in a research report report published on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

UWMC has been the subject of several other research reports. BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Barclays increased their price target on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of UWM from a “hold” rating to a “strong sell” rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, UWM currently has an average rating of “Hold” and an average price target of $6.79.

UWM Trading Down 0.1%

UWMC stock opened at $4.84 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. The business’s 50 day moving average price is $5.46 and its two-hundred day moving average price is $5.18. UWM has a fifty-two week low of $3.80 and a fifty-two week high of $7.14.

UWM (NYSE:UWMC) last released its 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 during the quarter, compared to analysts’ expectations of $651.51 million. Sell-side analysts forecast that UWM will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.3%. The ex-dividend date is Thursday, December 18th.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 612,287 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $5.47, for a total transaction of $3,349,209.89. Following the sale, the chief executive officer owned 3,730,973 shares of the company’s stock, valued at approximately $20,408,422.31. This trade represents a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 20,808,763 shares of company stock worth $117,211,730 in the last ninety days. 87.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UWM

Several institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new stake in shares of UWM during the second quarter valued at $792,000. AGF Management Ltd. purchased a new position in UWM in the 2nd quarter worth $3,072,000. 683 Capital Management LLC acquired a new stake in UWM during the 2nd quarter worth about $19,872,000. Capital Fund Management S.A. grew its stake in UWM by 260.9% during the 2nd quarter. Capital Fund Management S.A. now owns 573,583 shares of the company’s stock valued at $2,375,000 after purchasing an additional 414,667 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in UWM during the 3rd quarter valued at about $1,337,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.