Brokerages Set UWM Holdings Co. (NYSE:UWMC) Price Target at $5.59

Shares of UWM Holdings Co. (NYSE:UWMC) have earned an average rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.59.

UWMC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on UWM in a research report on Wednesday, January 10th. They issued a “hold” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods raised UWM from an “underperform” rating to a “market perform” rating and set a $6.00 price objective on the stock in a research report on Tuesday, April 9th.

UWM Stock Performance

Shares of UWMC opened at $6.07 on Thursday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average price is $6.74 and its 200-day moving average price is $6.21. UWM has a 52 week low of $4.49 and a 52 week high of $7.75. The stock has a market cap of $573.20 million, a P/E ratio of -31.92 and a beta of 1.60.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The company had revenue of ($114.58) million during the quarter, compared to the consensus estimate of $402.14 million. UWM had a return on equity of 2.45% and a net margin of 0.79%. Equities research analysts anticipate that UWM will post 0.3 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 6.60%. UWM’s payout ratio is -210.53%.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently modified their holdings of UWMC. Integrated Investment Consultants LLC increased its stake in shares of UWM by 2,107.2% in the 3rd quarter. Integrated Investment Consultants LLC now owns 3,592,568 shares of the company’s stock worth $17,424,000 after purchasing an additional 3,429,801 shares in the last quarter. FMR LLC increased its stake in shares of UWM by 30.6% in the 3rd quarter. FMR LLC now owns 6,077,084 shares of the company’s stock worth $29,474,000 after purchasing an additional 1,424,451 shares in the last quarter. Azora Capital LP purchased a new stake in shares of UWM in the 4th quarter worth $6,705,000. Schonfeld Strategic Advisors LLC increased its stake in shares of UWM by 250.1% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 808,700 shares of the company’s stock worth $3,971,000 after purchasing an additional 577,700 shares in the last quarter. Finally, State Street Corp increased its stake in shares of UWM by 46.6% in the 1st quarter. State Street Corp now owns 1,755,053 shares of the company’s stock worth $8,123,000 after purchasing an additional 558,245 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

About UWM

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.