UWM (NYSE:UWMC) Rating Lowered to “Sell” at Wall Street Zen

UWM (NYSE:UWMC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities analysts have also recently issued reports about the company. Weiss Ratings cut UWM from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Citizens Jmp raised UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price target for the company in a report on Wednesday, July 29th. Stephens reduced their price target on UWM from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $5.50 price target on shares of UWM in a research report on Thursday, May 7th. Finally, BTIG Research decreased their price objective on UWM from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.01.

UWM Stock Up 0.3%

Shares of UWMC stock opened at $1.59 on Friday. UWM has a 12 month low of $0.93 and a 12 month high of $7.14. The stock has a market cap of $2.55 billion, a P/E ratio of -19.94 and a beta of 1.79. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 6.05. The company has a 50 day simple moving average of $2.00 and a two-hundred day simple moving average of $3.21.

UWM (NYSE:UWMC) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). The business had revenue of $162.13 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, research analysts expect that UWM will post 0.24 earnings per share for the current year.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently modified their holdings of UWMC. Vanguard Group Inc. boosted its holdings in UWM by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock worth $83,042,000 after buying an additional 1,676,754 shares during the period. Azora Capital LP increased its stake in UWM by 230.8% in the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after buying an additional 7,881,586 shares in the last quarter. Brandes Investment Partners LP bought a new stake in UWM during the fourth quarter valued at about $45,867,000. Bank of America Corp DE raised its holdings in UWM by 127.4% during the first quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after acquiring an additional 3,905,286 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM News Roundup

Here are the key news stories impacting UWM this week:

• Positive Sentiment: UWM is reportedly seeking a roughly $2 billion capital lifeline following a costly interest-rate hedging strategy. Additional funding could help strengthen liquidity and address shareholder concerns, although it may also come with significant financing costs or dilution. US mortgage giant UWM seeks $2B lifeline after disastrous interest-rate bet

UWM Company Profile

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.