UBS Group Raises UWM (NYSE:UWMC) Price Target to $6.00

UWM (NYSE:UWMC) had its price objective upped by equities research analysts at UBS Group from $5.50 to $6.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 8.60% from the stock’s previous close.

Several other research analysts have also recently weighed in on UWMC. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. BTIG Research reissued a “buy” rating and set a $10.00 target price on shares of UWM in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Finally, Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.54.

UWM Stock Up 1.0%

Shares of UWMC traded up $0.06 during trading hours on Wednesday, reaching $5.53. The stock had a trading volume of 128,456 shares, compared to its average volume of 6,754,006. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of -109.90 and a beta of 1.79. The firm has a 50-day simple moving average of $5.92 and a 200 day simple moving average of $4.98. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM has a 12 month low of $3.80 and a 12 month high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. Equities research analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 596,356 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $5.47, for a total transaction of $3,262,067.32. Following the sale, the chief executive officer owned 3,847,188 shares of the company’s stock, valued at approximately $21,044,118.36. This represents a 13.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 19,709,352 shares of company stock worth $115,442,149. Insiders own 87.50% of the company’s stock.

Institutional Investors Weigh In On UWM

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock worth $105,252,000 after acquiring an additional 1,010,907 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after purchasing an additional 3,224,806 shares during the last quarter. 683 Capital Management LLC bought a new position in shares of UWM in the second quarter worth approximately $19,872,000. Bank of America Corp DE raised its stake in UWM by 93.8% in the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after purchasing an additional 1,819,129 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock valued at $13,633,000 after purchasing an additional 2,296,205 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.