UWM (NYSE:UWMC) Given New $2.75 Price Target at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) had its price target lowered by research analysts at Keefe, Bruyette & Woods from $3.75 to $2.75 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 102.95% from the company’s current price.

A number of other analysts have also weighed in on the stock. Citizens Jmp upgraded shares of UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price objective for the company in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $5.50 target price on shares of UWM in a report on Thursday, May 7th. Morgan Stanley lowered their price target on UWM from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Finally, Citigroup upgraded UWM to an “outperform” rating in a research report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, UWM has a consensus rating of “Hold” and a consensus price target of $4.01.

UWM Price Performance

Shares of NYSE:UWMC traded up $0.07 on Monday, hitting $1.35. The company’s stock had a trading volume of 13,962,532 shares, compared to its average volume of 19,823,193. UWM has a 1 year low of $0.93 and a 1 year high of $7.14. The company has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $3.36. The company has a market capitalization of $2.17 billion, a PE ratio of -17.06 and a beta of 1.79. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52.

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 analysts’ consensus estimates of $0.07 by ($0.30). UWM had a negative net margin of 1.04% and a negative return on equity of 5.61%. The business had revenue of $162.13 million during the quarter, compared to analysts’ expectations of $727.46 million. Sell-side analysts forecast that UWM will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On UWM

Several hedge funds have recently modified their holdings of UWMC. Allworth Financial LP boosted its stake 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 worth $25,000 after acquiring an additional 4,091 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of UWM during the 3rd quarter worth approximately $38,000. Raymond James Financial Inc. purchased a new stake in UWM in the 2nd quarter valued at $35,000. Farther Finance Advisors LLC raised its stake in UWM by 1,410.7% during the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after purchasing an additional 8,027 shares during the period. Finally, Focus Partners Wealth purchased a new stake in UWM in the first quarter valued at $55,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.