UWM (NYSE:UWMC) Upgraded at Zacks Research

Zacks Research upgraded shares of UWM (NYSE:UWMC) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Barclays lowered their target price on shares of UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Compass Point started coverage on shares of UWM in a research note on Tuesday, March 10th. They issued a “buy” rating and a $8.50 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a report on Friday, February 27th. Finally, The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a research report on Tuesday, January 6th. Three 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.49.

UWM Stock Up 0.7%

Shares of NYSE:UWMC opened at $3.65 on Monday. The firm has a market capitalization of $5.83 billion, a PE ratio of 60.75 and a beta of 1.92. The business has a 50 day simple moving average of $4.43 and a two-hundred day simple moving average of $5.11. UWM has a 1 year low of $3.38 and a 1 year high of $7.14. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The business had revenue of $945.25 million during the quarter, compared to analysts’ expectations of $759.12 million. On average, equities analysts predict that UWM will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 11.0%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio is currently 666.67%.

Insider Activity

In other news, CEO Ishbia Mat sold 1,000,574 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $3.70, for a total transaction of $3,702,123.80. Following the transaction, the chief executive officer owned 11,335,023 shares in the company, valued at approximately $41,939,585.10. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 22,090,468 shares of company stock worth $101,368,888. 87.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its holdings in shares of UWM by 258.0% in the 4th quarter. Corient Private Wealth LLC now owns 103,471 shares of the company’s stock valued at $453,000 after buying an additional 74,565 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of UWM by 1,570.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,191 shares of the company’s stock worth $53,000 after acquiring an additional 11,461 shares in the last quarter. Kera Capital Partners Inc. bought a new position in shares of UWM during the 4th quarter worth approximately $47,000. Virtu Financial LLC purchased a new stake in UWM during the fourth quarter valued at approximately $1,799,000. Finally, Invesco Ltd. boosted its stake in UWM by 504.1% in the fourth quarter. Invesco Ltd. now owns 1,498,979 shares of the company’s stock valued at $6,566,000 after acquiring an additional 1,250,845 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

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.