UWM’s (UWMC) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of UWM (NYSE:UWMC) in a report released on Tuesday, Marketbeat.com reports. They currently have a $10.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Zacks Research cut shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Weiss Ratings upgraded UWM from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, February 26th. Jefferies Financial Group set a $4.40 price target on UWM in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.49.

UWM Trading Down 4.5%

Shares of UWMC stock opened at $3.74 on Tuesday. UWM has a fifty-two week low of $3.64 and a fifty-two week high of $7.14. The stock has a market cap of $5.98 billion, a P/E ratio of 62.25 and a beta of 1.90. The business has a fifty day simple moving average of $4.90 and a 200-day simple moving average of $5.36. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64.

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

UWM Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.40 annualized dividend and a yield of 10.7%. UWM’s dividend payout ratio (DPR) is 666.67%.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $5.46, for a total value of $3,455,492.04. Following the completion of the sale, the chief executive officer owned 1,251,131 shares of the company’s stock, valued at $6,831,175.26. This represents a 33.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 19,205,826 shares of company stock worth $93,166,931 in the last 90 days. Insiders own 87.50% of the company’s stock.

Institutional Investors Weigh In On UWM

Hedge funds have recently modified their holdings of the stock. Oak Thistle LLC acquired a new stake in UWM in the third quarter valued at approximately $1,337,000. Vanguard Group Inc. boosted its stake 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 purchasing an additional 1,010,907 shares during the period. Hsbc Holdings PLC acquired a new stake in UWM during the 2nd quarter valued at $792,000. AGF Management Ltd. acquired a new stake in UWM during the 2nd quarter valued at $3,072,000. Finally, 683 Capital Management LLC purchased a new stake in UWM during the 2nd quarter worth $19,872,000. 53.59% of the stock is currently owned by hedge funds and other 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.