UWM (NYSE:UWMC) Given New $6.50 Price Target at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) had its price objective cut by Keefe, Bruyette & Woods from $7.00 to $6.50 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

UWMC has been the topic of several other research reports. Morgan Stanley cut their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. UBS Group boosted their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.22.

UWM Stock Performance

Shares of NYSE UWMC opened at $5.77 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average price is $6.14 and its two-hundred day moving average price is $7.40. UWM has a 52-week low of $5.44 and a 52-week high of $9.74. The stock has a market capitalization of $9.22 billion, a P/E ratio of -25.09 and a beta of 1.65.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 dividend on an annualized basis and a yield of 6.93%. UWM’s dividend payout ratio is presently -173.91%.

Hedge Funds Weigh In On UWM

Several large investors have recently bought and sold shares of UWMC. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of UWM in the third quarter valued at approximately $21,797,000. FMR LLC lifted its position in UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after purchasing an additional 2,010,985 shares during the period. Tidal Investments LLC bought a new position in UWM during the 3rd quarter valued at $3,833,000. Carrera Capital Advisors acquired a new position in shares of UWM during the 3rd quarter valued at $1,727,000. Finally, Renaissance Technologies LLC raised its stake in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after buying an additional 199,900 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.