UWM (NYSE:UWMC) Given New $7.50 Price Target 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 research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on UWMC. UBS Group increased their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Morgan Stanley started coverage on UWM in a report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target on the stock. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. BTIG Research lifted their target price on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy 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 $7.53.

UWM Stock Up 1.7 %

UWMC stock traded up $0.10 during mid-day trading on Thursday, reaching $5.84. 1,483,200 shares of the company traded hands, compared to its average volume of 1,955,680. The stock has a market cap of $558.37 million, a price-to-earnings ratio of -25.48 and a beta of 1.67. UWM has a fifty-two week low of $5.42 and a fifty-two week high of $9.74. The firm’s 50 day moving average price is $7.51 and its 200 day moving average price is $7.67. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM Announces Dividend

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s payout ratio is -173.91%.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. This trade represents a 87.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

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

UWM Company Profile

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.