UWM (NYSE:UWMC) Rating Increased to Hold at Argus

Argus upgraded shares of UWM (NYSE:UWMC) to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered their price target on UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group set a $4.40 price objective on shares of UWM in a research report on Wednesday, February 25th. Weiss Ratings lowered shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a report on Tuesday, January 6th. Finally, Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.49.

UWM Stock Performance

UWM stock opened at $3.65 on Tuesday. UWM has a twelve month low of $3.38 and a twelve month high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. The company has a market capitalization of $5.83 billion, a P/E ratio of 60.75 and a beta of 1.92. The stock’s 50 day moving average is $4.43 and its 200 day moving average is $5.11.

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

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Thursday, March 19th. UWM’s dividend payout ratio is presently 666.67%.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $3.55, for a total value of $3,552,037.70. Following the completion of the sale, the chief executive officer directly owned 5,331,579 shares in the company, valued at approximately $18,927,105.45. This trade represents a 15.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 22,090,468 shares of company stock worth $101,368,888 over the last 90 days. Company insiders own 87.50% of the company’s stock.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after acquiring an additional 4,091 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of UWM during the second quarter valued at approximately $35,000. Farther Finance Advisors LLC lifted its position in UWM by 1,410.7% during the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after purchasing an additional 8,027 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in UWM in the third quarter worth approximately $38,000. Institutional investors own 53.59% of the company’s stock.

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.