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

UWM (NYSE:UWMC) had its price target raised by equities researchers at UBS Group from $5.50 to $6.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 8.60% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Barclays boosted their target price on UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Finally, BTIG Research reiterated a “buy” rating and issued a $10.00 price target on shares of UWM in a report on Monday, September 22nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, UWM currently has an average rating of “Hold” and a consensus target price of $6.54.

UWM Price Performance

Shares of UWMC stock traded up $0.06 during trading hours on Wednesday, hitting $5.53. 128,456 shares of the company’s stock were exchanged, compared to its average volume of 6,754,006. UWM has a 12-month low of $3.80 and a 12-month high of $7.14. The company has a market capitalization of $8.84 billion, a PE ratio of -109.90 and a beta of 1.79. The business’s 50 day simple moving average is $5.92 and its 200-day simple moving average is $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 (NYSE:UWMC) last released its earnings results 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). The company had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, equities research analysts anticipate that UWM will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 596,356 shares of the firm’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 completion of the transaction, the chief executive officer owned 3,847,188 shares of the company’s stock, valued at approximately $21,044,118.36. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 19,709,352 shares of company stock valued at $115,442,149 in the last 90 days. 87.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of UWM by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after acquiring an additional 1,010,907 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in UWM by 116.6% in the 2nd 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 period. 683 Capital Management LLC bought a new position in shares of UWM in the second quarter worth about $19,872,000. Bank of America Corp DE grew its stake in shares of UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after acquiring an additional 1,819,129 shares during the period. Finally, AQR Capital Management LLC raised its stake in UWM by 1,144.7% during the 1st 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 period. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.