UWM Holdings Co. (NYSE:UWMC) Given Average Rating of “Reduce” by Analysts

Shares of UWM Holdings Co. (NYSE:UWMC) have received a consensus rating of “Reduce” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.69.

UWMC has been the topic of several recent analyst reports. Wedbush restated a “neutral” rating and set a $7.00 target price on shares of UWM in a research report on Friday, May 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.00 price objective (up from $6.00) on shares of UWM in a research note on Friday, May 10th.

UWM Stock Performance

NYSE:UWMC opened at $6.93 on Tuesday. The firm’s fifty day simple moving average is $7.07 and its 200-day simple moving average is $6.85. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90. The stock has a market cap of $662.37 million, a PE ratio of 231.00 and a beta of 1.65. UWM has a fifty-two week low of $4.49 and a fifty-two week high of $7.78.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend is Thursday, June 20th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Hedge Funds Weigh In On UWM

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in UWM by 30.6% during the 3rd quarter. FMR LLC now owns 6,077,084 shares of the company’s stock worth $29,474,000 after purchasing an additional 1,424,451 shares in the last quarter. Azora Capital LP acquired a new position in shares of UWM in the fourth quarter valued at approximately $6,705,000. Trexquant Investment LP purchased a new position in shares of UWM during the third quarter valued at approximately $545,000. Sherbrooke Park Advisers LLC acquired a new stake in UWM during the third quarter worth approximately $400,000. Finally, Victory Capital Management Inc. grew its stake in UWM by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock worth $15,202,000 after acquiring an additional 81,799 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.

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.