UWM (NYSE:UWMC) Price Target Lowered to $7.50 at The Goldman Sachs Group

UWM (NYSE:UWMC) had its price objective cut by The Goldman Sachs Group from $8.50 to $7.50 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group boosted their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Wedbush upped their price target on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley initiated coverage on UWM in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price objective on the stock. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. Finally, BTIG Research raised their target price on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.53.

UWM Stock Performance

Shares of UWMC traded up $0.10 on Thursday, reaching $5.84. The company’s stock had a trading volume of 1,483,200 shares, compared to its average volume of 1,955,680. The stock’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $7.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $558.37 million, a P/E ratio of -25.48 and a beta of 1.67. UWM has a 12-month low of $5.42 and a 12-month high of $9.74.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 6.85%. UWM’s dividend payout ratio is presently -173.91%.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The trade was a 87.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of UWM by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after purchasing an additional 3,207 shares during the last quarter. Squarepoint Ops LLC boosted its stake in UWM by 24.5% during the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after buying an additional 67,383 shares during the last quarter. Quadrature Capital Ltd grew its holdings in UWM by 124.3% during the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after buying an additional 30,361 shares in the last quarter. SG Americas Securities LLC increased its stake in UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after acquiring an additional 226,819 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after acquiring an additional 199,900 shares in the last quarter. 53.59% of the stock is currently 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.