UWM (NYSE:UWMC) Upgraded by Barclays to Equal Weight

UWM (NYSE:UWMC) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, FinViz reports. The brokerage currently has a $8.00 price objective on the stock, up from their previous price objective of $6.00. Barclays‘s target price indicates a potential upside of 8.92% from the company’s previous close.

Several other research analysts also recently issued reports on UWMC. The Goldman Sachs Group upped their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. UBS Group increased their target price on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. BTIG Research raised their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Wedbush raised their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.68.

UWM Trading Down 2.8 %

NYSE:UWMC opened at $7.35 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average price of $8.77 and a two-hundred day moving average price of $7.65. The company has a market cap of $702.02 million, a P/E ratio of 244.83 and a beta of 1.63. UWM has a twelve month low of $4.77 and a twelve month high of $9.74.

UWM (NYSE:UWMC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the prior year, the company posted $0.11 EPS. As a group, analysts expect that UWM will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of UWM by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after buying an additional 3,207 shares during the period. Quadrature Capital Ltd boosted its stake in shares of UWM by 124.3% in the first quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock worth $397,000 after buying an additional 30,361 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of UWM by 24.5% during the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after purchasing an additional 67,383 shares in the last quarter. SG Americas Securities LLC increased its holdings in 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 raised its holdings in UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.