UWM (NYSE:UWMC) Rating Reiterated by Wedbush

UWM (NYSE:UWMC)‘s stock had its “neutral” rating restated by equities researchers at Wedbush in a research report issued on Friday, Benzinga reports. They currently have a $7.00 price target on the stock. Wedbush’s price objective suggests a potential downside of 5.41% from the company’s previous close.

Separately, Keefe, Bruyette & Woods raised UWM from an “underperform” rating to a “market perform” rating and set a $6.00 target price for the company in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.65.

UWM Price Performance

UWM stock opened at $7.40 on Friday. UWM has a 1 year low of $4.49 and a 1 year high of $7.75. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a 50 day moving average price of $6.66 and a 200 day moving average price of $6.39. The company has a market cap of $702.63 million, a price-to-earnings ratio of -38.95 and a beta of 1.62.

UWM (NYSE:UWMC) last issued its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.26). The firm had revenue of ($114.58) million during the quarter, compared to analysts’ expectations of $402.14 million. UWM had a return on equity of 2.45% and a net margin of 0.79%. Sell-side analysts predict that UWM will post 0.3 earnings per share for the current year.

Institutional Trading of UWM

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in UWM by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 846,758 shares of the company’s stock worth $4,107,000 after acquiring an additional 14,623 shares during the period. Strs Ohio lifted its holdings in shares of UWM by 12.1% in the 3rd quarter. Strs Ohio now owns 166,918 shares of the company’s stock worth $809,000 after purchasing an additional 17,995 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in UWM by 6.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 46,515 shares of the company’s stock valued at $226,000 after purchasing an additional 2,732 shares during the period. Olympiad Research LP bought a new position in UWM during the 3rd quarter worth $146,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of UWM by 18.7% during the third quarter. Victory Capital Management Inc. now owns 2,044,367 shares of the company’s stock valued at $9,915,000 after acquiring an additional 322,021 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.

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.