Barclays Upgrades UWM (NYSE:UWMC) to “Equal Weight”

Barclays upgraded shares of UWM (NYSE:UWMC) from an underweight rating to an equal weight rating in a report published on Tuesday morning, MarketBeat.com reports. Barclays currently has $8.00 price target on the stock, up from their prior price target of $6.00.

Several other analysts have also issued reports on the stock. Wedbush upped their price target on shares of UWM from $7.00 to $8.50 and gave the stock a neutral rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on UWM from $4.50 to $4.75 and gave the stock a sell rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods upped their price objective on UWM from $7.00 to $8.00 and gave the company a market perform rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on UWM from $7.50 to $8.50 and gave the stock a neutral rating in a research note on Thursday, August 8th. Finally, BTIG Research increased their price target on UWM from $8.00 to $10.00 and gave the company a buy rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $7.68.

UWM Stock Performance

Shares of UWMC opened at $7.38 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. UWM has a 12 month low of $4.77 and a 12 month high of $9.74. The firm has a fifty day simple moving average of $8.67 and a 200 day simple moving average of $7.65. The stock has a market capitalization of $705.60 million, a price-to-earnings ratio of -369.00 and a beta of 1.63.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to the consensus estimate of $540.31 million. During the same period last year, the firm earned $0.11 EPS. Research analysts forecast that UWM will post 0.26 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued 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 yield of 5.42%. UWM’s payout ratio is currently -2,000.00%.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction dated 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 directly owns 171,520 shares in the company, valued at approximately $1,449,344. This represents a 0.00 % decrease in their ownership of the stock. 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its holdings in shares of UWM by 1,743.3% in the 2nd 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 in the last quarter. Renaissance Technologies LLC boosted its stake 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. AQR Capital Management LLC grew 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 acquiring an additional 173,652 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in UWM by 334.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company’s stock worth $1,557,000 after acquiring an additional 172,969 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of UWM by 366.1% in the third quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock worth $1,528,000 after acquiring an additional 140,830 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.