UWM Holdings Co. Class (NYSE:UWMC) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of UWM Holdings Co. Class (NYSE:UWMC) from a hold rating to a strong sell rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “UWM Holdings Corporation is a parent of United Wholesale Mortgage. It underwrites and provides closing documentation for residential mortgage loans. UWM Holdings Corporation, formerly known as Gores Holdings IV Inc., is headquartered in Pontiac, Michigan. “

UWMC has been the subject of several other reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UWM Holdings Co. Class in a report on Tuesday, February 16th. They issued a buy rating and a $12.00 price objective for the company. Credit Suisse Group initiated coverage on shares of UWM Holdings Co. Class in a report on Monday, March 1st. They set an outperform rating and a $10.50 target price for the company. Barclays initiated coverage on shares of UWM Holdings Co. Class in a report on Tuesday, April 27th. They set an overweight rating and a $10.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of UWM Holdings Co. Class in a report on Wednesday, February 17th. They set a neutral rating and a $10.50 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $10.60.

Shares of UWMC opened at $8.12 on Friday. UWM Holdings Co. Class has a one year low of $6.25 and a one year high of $14.38. The business has a 50-day moving average of $7.66.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 6th. Investors of record on Thursday, June 10th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, June 9th. This represents a $0.40 dividend on an annualized basis and a yield of 4.93%.

A number of hedge funds and other institutional investors have recently made changes to their positions in UWMC. International Assets Investment Management LLC bought a new stake in UWM Holdings Co. Class in the 1st quarter worth approximately $29,000. Sowell Financial Services LLC bought a new stake in UWM Holdings Co. Class in the 1st quarter worth approximately $29,000. CWM LLC bought a new stake in UWM Holdings Co. Class in the 1st quarter worth approximately $53,000. Bank of Montreal Can bought a new stake in UWM Holdings Co. Class in the 1st quarter worth approximately $69,000. Finally, Commonwealth Equity Services LLC bought a new stake in UWM Holdings Co. Class in the 1st quarter worth approximately $84,000.

UWM Holdings Co. Class Company Profile

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. The company was founded in 1986 and is headquartered in Pontiac, Michigan.

See Also: Municipal Bonds

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