Keefe, Bruyette & Woods Issues Pessimistic Forecast for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its price target cut by analysts at Keefe, Bruyette & Woods from $7.00 to $6.50 in a report released on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.25% from the stock’s previous close.

UWMC has been the subject of a number of other reports. The Goldman Sachs Group dropped their price target on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Morgan Stanley dropped their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group raised their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.22.

UWM Trading Down 3.9 %

Shares of UWMC stock opened at $5.64 on Friday. The company has a market capitalization of $9.01 billion, a P/E ratio of -24.52 and a beta of 1.65. The firm has a 50-day moving average price of $6.16 and a 200 day moving average price of $7.41. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 12-month low of $5.44 and a 12-month high of $9.74.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. Philadelphia Financial Management of San Francisco LLC acquired a new stake in UWM in the third quarter worth $21,797,000. FMR LLC raised its stake in UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after buying an additional 2,010,985 shares during the period. Tidal Investments LLC acquired a new position in UWM in the third quarter valued at about $3,833,000. Carrera Capital Advisors bought a new stake in shares of UWM in the third quarter worth about $1,727,000. Finally, Renaissance Technologies LLC raised its position in shares of UWM by 13.2% during the second 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. Institutional investors own 53.59% of the company’s stock.

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.