UWM’s (UWMC) Buy Rating Reiterated at BTIG Research

UWM (NYSE:UWMC)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the stock. BTIG Research’s target price would suggest a potential upside of 96.08% from the company’s previous close.

UWMC has been the subject of a number of other research reports. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. Barclays lowered their price objective on UWM from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Morgan Stanley set a $5.00 price objective on UWM in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $5.50 price target on shares of UWM in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating on shares of UWM in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.19.

UWM Price Performance

UWMC opened at $2.04 on Wednesday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $3.27 billion, a P/E ratio of 7.56 and a beta of 1.72. The company’s 50 day simple moving average is $3.07 and its 200-day simple moving average is $4.09. UWM has a one year low of $2.00 and a one year high of $7.14.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 19.01%. The firm had revenue of $901.43 million during the quarter, compared to analysts’ expectations of $709.85 million. Sell-side analysts anticipate that UWM will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $3.57, for a total transaction of $3,581,898.81. Following the completion of the transaction, the chief executive officer directly owned 2,995,754 shares in the company, valued at approximately $10,694,841.78. The trade was a 25.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,939,764 shares of company stock worth $73,297,350 in the last quarter. 80.30% of the stock is currently owned by company insiders.

Institutional Trading of UWM

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in UWM by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock valued at $243,000 after acquiring an additional 2,329 shares during the period. Public Employees Retirement System of Ohio boosted its position in UWM by 4.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock worth $225,000 after purchasing an additional 2,407 shares during the period. Allworth Financial LP boosted its position in UWM by 62.5% during the fourth quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock worth $30,000 after purchasing an additional 2,602 shares during the period. Choreo LLC increased its holdings in shares of UWM by 16.1% in the fourth quarter. Choreo LLC now owns 19,017 shares of the company’s stock valued at $84,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Fortem Financial Group LLC increased its holdings in shares of UWM by 29.5% in the fourth quarter. Fortem Financial Group LLC now owns 16,685 shares of the company’s stock valued at $73,000 after purchasing an additional 3,800 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.