UWM (NYSE:UWMC) Price Target Lowered to $5.00 at Barclays

UWM (NYSE:UWMC) had its price target trimmed by Barclays from $6.00 to $5.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Compass Point assumed coverage on UWM in a report on Tuesday, March 10th. They set a “buy” rating and a $8.50 target price for the company. BTIG Research reiterated a “buy” rating and set a $10.00 price objective on shares of UWM in a research report on Tuesday, March 10th. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings downgraded UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.36.

UWM Stock Up 0.4%

NYSE:UWMC opened at $3.74 on Monday. The firm has a market capitalization of $5.98 billion, a PE ratio of 62.27 and a beta of 1.93. The stock has a 50 day moving average of $4.31 and a 200-day moving average of $5.04. UWM has a 52 week low of $3.38 and a 52 week high of $7.14. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio is 666.67%.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,000,574 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $3.73, for a total value of $3,732,141.02. Following the completion of the sale, the chief executive officer directly owned 9,327,561 shares in the company, valued at $34,791,802.53. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 24,827,016 shares of company stock valued at $110,236,253 in the last three months. Corporate insiders own 87.50% of the company’s stock.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently added to or reduced their stakes in UWMC. Integrated Investment Consultants LLC bought a new position in shares of UWM in the third quarter valued at $32,630,000. Tudor Investment Corp ET AL bought a new position in shares of UWM in the third quarter valued at $12,237,000. Vanguard Group Inc. increased its holdings in shares of UWM by 6.2% in the third quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after buying an additional 1,010,907 shares in the last quarter. Alight Capital Management LP bought a new position in shares of UWM in the third quarter valued at $3,958,000. Finally, Oak Thistle LLC bought a new position in shares of UWM in the third quarter valued at $1,337,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.