UWM (NYSE:UWMC) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of UWM (NYSE:UWMC) in a research note issued on Tuesday, StockNewsAPI reports. The firm set an “equal weight” rating and a $7.50 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 13.12% from the company’s previous close.

Several other equities research analysts have also commented on UWMC. BTIG Research boosted their price target on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. 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 note on Thursday, August 8th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. Wedbush raised their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, UBS Group increased their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.66.

UWM Price Performance

UWM stock opened at $6.63 on Tuesday. The firm has a 50-day moving average of $7.94 and a two-hundred day moving average of $7.70. UWM has a 1 year low of $5.01 and a 1 year high of $9.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same period in the previous year, the business posted $0.11 earnings per share. Equities analysts anticipate that UWM will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,200,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at $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 available through this hyperlink. Corporate insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC acquired a new stake in UWM during the 1st quarter worth about $29,000. Quantbot Technologies LP lifted its holdings in UWM by 134.8% in the first quarter. Quantbot Technologies LP now owns 115,250 shares of the company’s stock valued at $837,000 after acquiring an additional 66,174 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in UWM in the 1st quarter worth approximately $375,000. Inspire Investing LLC purchased a new stake in UWM in the 1st quarter worth approximately $445,000. Finally, Bleakley Financial Group LLC grew its stake in shares of UWM by 18.0% during the 1st quarter. Bleakley Financial Group LLC now owns 30,215 shares of the company’s stock worth $219,000 after purchasing an additional 4,612 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.