UWM (NYSE:UWMC) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of UWM (NYSE:UWMC) in a research note issued to investors on Tuesday. The firm issued an equal weight rating and a $7.50 target price on the stock.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wedbush upped their price objective on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their target price on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, BTIG Research raised their price target on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, UWM currently has a consensus rating of “Hold” and an average price target of $7.66.

UWM Stock Performance

Shares of UWM stock opened at $6.16 on Tuesday. The business has a 50-day simple moving average of $7.89 and a 200-day simple moving average of $7.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. UWM has a one year low of $5.14 and a one year high of $9.74. The company has a market cap of $588.97 million, a PE ratio of -308.00 and a beta of 1.67.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities research analysts forecast that UWM will post 0.26 EPS for the current fiscal year.

Insider Activity at UWM

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,562,547.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 94.11% of the stock is currently owned by insiders.

Institutional Trading of UWM

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in UWM by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after purchasing an additional 3,207 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of UWM by 24.5% during the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock worth $2,372,000 after buying an additional 67,383 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of UWM by 124.3% in the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after buying an additional 30,361 shares during the period. SG Americas Securities LLC boosted its stake in shares of UWM by 1,743.3% in the second quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after buying an additional 226,819 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in UWM by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after acquiring an additional 199,900 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

About UWM

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.