UWM (NYSE:UWMC) Rating Lowered to Neutral at Compass Point

UWM (NYSE:UWMC) was downgraded by Compass Point from a “buy” rating to a “neutral” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $1.50 target price on the stock. Compass Point‘s target price would suggest a potential upside of 6.01% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley set a $1.50 target price on UWM in a research note on Monday, October 12th. Citizens Jmp upgraded UWM from a “market perform” rating to an “outperform” rating and set a $3.00 target price on the stock in a research report on Wednesday, July 29th. BTIG Research restated a “neutral” rating on shares of UWM in a research report on Friday. Citigroup restated a “market outperform” rating on shares of UWM in a report on Monday. Finally, Weiss Ratings downgraded shares of UWM from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.76.

UWM Price Performance

UWMC opened at $1.42 on Tuesday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -17.69 and a beta of 1.82. The business’s fifty day simple moving average is $1.29 and its 200-day simple moving average is $2.88. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 6.05. UWM has a 12-month low of $0.93 and a 12-month high of $6.15.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $888.00 million during the quarter, compared to the consensus estimate of $727.46 million. UWM had a negative return on equity of 6.20% and a negative net margin of 1.04%. On average, equities research analysts anticipate that UWM will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UWMC. Bank of America Corp DE boosted its position in shares of UWM by 127.4% in the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after purchasing an additional 3,905,286 shares during the period. Integrated Investment Consultants LLC increased its holdings in shares of UWM by 0.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 5,371,664 shares of the company’s stock valued at $19,445,000 after purchasing an additional 26,679 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of UWM during the 2nd quarter worth approximately $4,593,000. Squarepoint Ops LLC increased its position in shares of UWM by 179.6% in the second quarter. Squarepoint Ops LLC now owns 1,774,823 shares of the company’s stock valued at $4,064,000 after buying an additional 1,140,136 shares in the last quarter. Finally, Signature Equity Partners LLC grew its position in shares of UWM by 20.5% in the first quarter. Signature Equity Partners LLC now owns 925,864 shares of the company’s stock valued at $3,352,000 after purchasing an additional 157,262 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

About UWM

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

United Wholesale Mortgage traces its history to 1986 and is headquartered in Pontiac, Michigan.