The Goldman Sachs Group Has Lowered Expectations for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its target price decreased by The Goldman Sachs Group from $8.50 to $7.50 in a report issued on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

UWMC has been the subject of several other reports. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. UBS Group boosted their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Wedbush raised their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. BTIG Research boosted their price objective on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, UWM presently has a consensus rating of “Hold” and a consensus target price of $7.53.

UWM Stock Performance

Shares of UWMC opened at $5.83 on Thursday. UWM has a 52-week low of $5.42 and a 52-week high of $9.74. The stock’s 50-day simple moving average is $7.45 and its 200 day simple moving average is $7.68. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $557.42 million, a price-to-earnings ratio of -25.35 and a beta of 1.67.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date is Thursday, December 19th. UWM’s payout ratio is currently -173.91%.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The stock was 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 owns 171,520 shares in the company, valued at approximately $1,449,344. The trade was a 87.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently bought and sold shares of UWMC. CWM LLC boosted its stake in shares of UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after purchasing an additional 3,177 shares during the period. International Assets Investment Management LLC purchased a new stake in UWM during the 2nd quarter valued at $52,000. SageView Advisory Group LLC bought a new stake in UWM in the 1st quarter worth $55,000. Xponance Inc. purchased a new position in shares of UWM in the second quarter valued at about $76,000. Finally, Intech Investment Management LLC bought a new position in shares of UWM during the second quarter valued at about $85,000. 53.59% of the stock is currently owned by institutional investors.

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.