The Vanguard Group, Inc. recently announced the acquisition of new stake in UWM Holdings Corporation (NYSE:UWMC). The institutional investor has increased its shareholding in the Financial company by 1.95% to 7.42 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 8.02% valued currently at $31.61 million. In addition, Fidelity Management & Research Co raised its holdings by 0.9 million to 4.07 million shares. And BlackRock Fund Advisors has lifted its position by 4.39% or 0.15 million shares – to 3.53 million shares.
With over 2.0 million UWM Holdings Corporation (UWMC) shares trading Monday and a closing price of $4.60 on the day, the dollar volume was approximately $9.22 million. The shares have shown a positive half year performance of 22.99% and its price on 03/13/23 gained nearly 4.55%. Currently, there are 1.60B common shares owned by the public and among those 89.02M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for UWMC have a consensus price objective of $4.10. The analysts have set the share’s price value over the next 12 months at a high of $5.50 and a low of $3.50. The average price target is -12.2% below its recent price level and a downside to the estimated low will see the stock lose -31.43% over that period. But an upside of 16.36% will see the stock hit the forecast high price target while median target price for the stock is $3.88.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 333,462 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 15,736 shares.
The top 3 mutual fund holders in UWM Holdings Corporation are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Vanguard Small Cap Value Index Fu. Vanguard Total Stock Market Index owns 2.3 million shares of the company’s stock, all valued at over $9.8 million. Vanguard Small Cap Index Fund bought 11792.0 shares to see its total holdings expand to 2.16 million shares valued at over $9.19 million and representing 2.33% of the shares outstanding. Vanguard Small Cap Value Index Fu bought 10965.0 shares to bring its total holdings to over 1.51 million shares at a value of $6.45 million. Vanguard Small Cap Value Index Fu now owns shares totaling to 1.63% of the shares outstanding.
Shares of UWM Holdings Corporation (NYSE: UWMC) opened at $4.21, down -$0.19 from a prior closing price of $4.40. However, the script later moved the day high at 4.6900, up 4.55%. The company’s stock has a 5-day price change of -3.36% and -0.22% over the past three months. UWMC shares are trading 38.97% year to date (YTD), with the 12-month market performance up to 2.91% higher. It has a 12-month low price of $2.84 and touched a high of $5.03 over the same period. UWMC has an average intraday trading volume of 1.02 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.78%, 8.90%, and 19.35% respectively.
Institutional ownership of UWM Holdings Corporation (NYSE: UWMC) shares accounts for 32.50% of the company’s 1.60B shares outstanding. Mutual fund holders own 19.40%, while other institutional holders and individual stakeholders account for 4.56% and 14.59% respectively.
It has a market capitalization of $7.65B. The stock’s trailing 12-month PE ratio is 10.62, while the earnings-per-share (ttm) stands at $0.43. The company has a debt-to-equity ratio at 67.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.59% over the week and 4.97% over the month.
Analysts forecast that UWM Holdings Corporation (UWMC) will achieve an EPS of -$0.01 for the current quarter, $0.01 for the next quarter and $0.18 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was $0.11 a year ago. Earnings per share for the fiscal year are expected to decrease by -32.10%, and 56.19% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate UWM Holdings Corporation (UWMC) as a “Hold” at a consensus score of 3.20. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 12 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the UWMC, a number of firms have released research notes about the stock. Keefe Bruyette stated their Mkt Perform rating for the stock in a research note on March 02, 2023, with the firm’s price target at $3.50-$4. Barclays coverage for the UWM Holdings Corporation (UWMC) stock in a research note released on January 06, 2023 offered a Underweight rating with a price target of $2.50. Keefe Bruyette was of a view on December 15, 2022 that the stock is Underperform, while Credit Suisse gave the stock Underperform rating on August 10, 2022, issuing a price target of $3.75- $3.50. Argus on their part issued Hold rating on June 02, 2022.
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