Brokerages Set UWM Holdings Corporation (NYSE:UWMC) Price Target at $4.10

UWM Holdings Corporation (NYSE:UWMC) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.0136.

UWMC has been the topic of a number of research analyst reports. Zacks Research cut UWM from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Citizens Jmp upgraded UWM from a “market perform” rating to an “outperform” rating and set a $3.00 target price for the company in a research note on Wednesday, July 29th. Morgan Stanley lowered their price target on shares of UWM from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $5.50 price objective on shares of UWM in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of UWM from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday.

UWM Stock Performance

NYSE:UWMC opened at $1.64 on Friday. The company has a market cap of $2.62 billion, a P/E ratio of -20.44 and a beta of 1.78. The firm’s 50 day moving average is $2.02 and its two-hundred day moving average is $3.24. UWM has a fifty-two week low of $0.93 and a fifty-two week high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). The company had revenue of $162.13 million for the quarter, compared to analysts’ expectations of $727.46 million. UWM had a negative net margin of 1.04% and a negative return on equity of 5.61%. Analysts expect that UWM will post 0.24 EPS for the current year.

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its position in shares of UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after buying an additional 4,091 shares during the last quarter. Advisory Services Network LLC bought a new position in UWM in the third quarter worth about $38,000. Raymond James Financial Inc. bought a new position in UWM in the second quarter worth about $35,000. Farther Finance Advisors LLC boosted its stake in UWM by 1,410.7% in the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after acquiring an additional 8,027 shares during the period. Finally, Focus Partners Wealth acquired a new position in UWM in the first quarter valued at approximately $55,000. 53.59% of the stock is owned by institutional investors and hedge funds.

About UWM

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.