UWM (NYSE:UWMC) Upgraded by Barclays to Equal Weight

Barclays upgraded shares of UWM (NYSE:UWMC) from an underweight rating to an equal weight rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $8.00 price target on the stock, up from their prior price target of $6.00.

Several other research firms have also recently weighed in on UWMC. Wedbush increased their price target on shares of UWM from $7.00 to $8.50 and gave the company a neutral rating in a report on Wednesday, August 7th. 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 report on Wednesday, August 7th. The Goldman Sachs Group increased their price target on shares of UWM from $7.50 to $8.50 and gave the company a neutral rating in a report on Thursday, August 8th. UBS Group raised their target price on shares of UWM from $4.50 to $4.75 and gave the stock a sell rating in a report on Thursday, September 5th. 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 report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, UWM presently has a consensus rating of Hold and a consensus target price of $7.68.

UWM Stock Down 1.0 %

Shares of UWMC stock opened at $7.26 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average is $8.69 and its 200-day moving average is $7.65. UWM has a 52-week low of $4.77 and a 52-week high of $9.74.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, equities research analysts forecast that UWM will post 0.26 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 5.51%. UWM’s dividend payout ratio is -2,000.00%.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,449,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 94.11% of the stock is currently owned by company insiders.

Institutional Trading of UWM

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after buying an additional 199,900 shares in the last quarter. Bank of New York Mellon Corp boosted its position in UWM by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock valued at $6,294,000 after buying an additional 37,190 shares in the last quarter. Squarepoint Ops LLC boosted its position in UWM by 24.5% in 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 in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in UWM by 3.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock valued at $2,085,000 after buying an additional 9,555 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in UWM by 203.7% in the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock valued at $1,784,000 after buying an additional 173,652 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.