Wedbush Analysts Decrease Earnings Estimates for UWM

UWM Holdings Co. (NYSE:UWMC) – Wedbush decreased their Q4 2024 earnings estimates for UWM in a research note issued to investors on Monday, November 11th. Wedbush analyst J. Mccanless now anticipates that the company will earn $0.06 per share for the quarter, down from their previous forecast of $0.10. Wedbush has a “Neutral” rating and a $8.50 price target on the stock. The consensus estimate for UWM’s current full-year earnings is $0.19 per share.

Several other equities analysts have also weighed in on UWMC. Keefe, Bruyette & Woods increased their target price 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 increased their target price on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. BTIG Research lifted their target price on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, UBS Group increased 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. One 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 company’s stock. According to data from MarketBeat, UWM presently has a consensus rating of “Hold” and an average price target of $7.66.

UWM Stock Performance

Shares of UWM stock opened at $6.03 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 52 week low of $5.35 and a 52 week high of $9.74. The firm has a fifty day moving average of $7.70 and a two-hundred day moving average of $7.70.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s payout ratio is -173.91%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 171,520 shares in the company, valued at $1,449,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares in the last quarter. Bank of New York Mellon Corp raised its position in UWM by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after acquiring an additional 37,190 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in UWM by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 574,290 shares of the company’s stock valued at $4,893,000 after acquiring an additional 7,846 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of UWM by 56.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company’s stock valued at $3,541,000 after acquiring an additional 149,216 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of UWM by 24.5% during the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock worth $2,372,000 after buying an additional 67,383 shares during the last quarter. Institutional investors 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.