UWM (NYSE:UWMC) Price Target Cut to $6.50 by Analysts at Morgan Stanley

UWM (NYSE:UWMC) had its target price reduced by Morgan Stanley from $7.50 to $6.50 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued research reports about the company. UBS Group boosted their price target on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Keefe, Bruyette & Woods decreased their price objective on shares of UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group cut their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.28.

UWM Stock Performance

Shares of UWMC opened at $5.65 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 12 month low of $5.44 and a 12 month high of $9.74. The company’s fifty day moving average is $6.43 and its 200-day moving average is $7.52. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of -24.57 and a beta of 1.65.

UWM Dividend Announcement

The business 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 $0.10 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 7.08%. UWM’s dividend payout ratio is -173.91%.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. McAdam LLC increased its holdings in UWM by 16.0% in the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after buying an additional 1,758 shares during the period. Wedmont Private Capital increased its stake in UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock valued at $171,000 after acquiring an additional 1,963 shares during the period. Mercer Global Advisors Inc. ADV raised its position in UWM by 8.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock worth $168,000 after purchasing an additional 1,991 shares in the last quarter. Rhumbline Advisers lifted its stake in UWM by 3.9% during the second quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after purchasing an additional 3,426 shares during the period. Finally, Integrated Investment Consultants LLC boosted its holdings in UWM by 7.9% during the third quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company’s stock valued at $858,000 after purchasing an additional 7,334 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

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.