UWM (NYSE:UWMC) Downgraded by Piper Sandler to Underweight

Piper Sandler cut shares of UWM (NYSE:UWMCGet Rating) from a neutral rating to an underweight rating in a research report released on Thursday morning, Marketbeat Ratings reports. Piper Sandler currently has $3.00 target price on the stock, down from their previous target price of $5.00.

UWMC has been the subject of a number of other research reports. Wedbush cut UWM from an outperform rating to a neutral rating and set a $5.00 price target for the company. in a research report on Tuesday, May 17th. Barclays decreased their price objective on UWM from $7.00 to $5.00 and set an equal weight rating for the company in a report on Thursday, March 3rd. UBS Group cut UWM from a buy rating to a neutral rating and set a $5.00 price objective for the company. in a report on Wednesday, February 23rd. Zacks Investment Research cut UWM from a buy rating to a hold rating in a report on Friday, March 4th. Finally, The Goldman Sachs Group decreased their price objective on UWM from $5.25 to $4.60 and set a neutral rating for the company in a report on Monday, April 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $6.12.

Shares of UWMC opened at $3.96 on Thursday. The stock has a 50-day moving average of $4.05 and a two-hundred day moving average of $5.12. UWM has a one year low of $3.38 and a one year high of $10.98. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market cap of $366.43 million, a P/E ratio of 7.07 and a beta of 1.05.

UWM (NYSE:UWMCGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. UWM had a return on equity of 13.31% and a net margin of 2.78%. During the same quarter in the previous year, the company posted $0.71 earnings per share. Analysts predict that UWM will post 0.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Tuesday, June 21st will be paid a $0.10 dividend. The ex-dividend date is Friday, June 17th. This represents a $0.40 annualized dividend and a dividend yield of 10.10%. UWM’s dividend payout ratio is presently 71.43%.

A number of large investors have recently bought and sold shares of UWMC. Diameter Capital Partners LP purchased a new stake in UWM during the 1st quarter worth approximately $36,053,000. BlackRock Inc. increased its stake in UWM by 40.2% during the 4th quarter. BlackRock Inc. now owns 4,440,979 shares of the company’s stock worth $26,291,000 after buying an additional 1,273,712 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in UWM by 8,171.8% during the 4th quarter. Integrated Investment Consultants LLC now owns 1,044,234 shares of the company’s stock worth $6,182,000 after buying an additional 1,031,610 shares in the last quarter. State Street Corp increased its stake in UWM by 46.6% during the 1st quarter. State Street Corp now owns 1,755,053 shares of the company’s stock worth $8,123,000 after buying an additional 558,245 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its stake in UWM by 119.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 88,738 shares of the company’s stock worth $617,000 after buying an additional 553,738 shares in the last quarter. Institutional investors own 33.06% of the company’s stock.

About UWM (Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.

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