UWM (NYSE:UWMC) Given New $6.50 Price Target at Morgan Stanley

UWM (NYSE:UWMC) had its price target reduced by Morgan Stanley from $7.50 to $6.50 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 17.97% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group raised their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. The Goldman Sachs Group cut their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut their target price on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.28.

UWM Stock Down 2.3 %

Shares of UWM stock traded down $0.13 on Thursday, reaching $5.51. 1,853,540 shares of the company were exchanged, compared to its average volume of 2,055,841. The stock’s 50 day moving average price is $6.46 and its 200-day moving average price is $7.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM has a 1-year low of $5.44 and a 1-year high of $9.74. The company has a market cap of $8.81 billion, a P/E ratio of -23.96 and a beta of 1.65.

Hedge Funds Weigh In On UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in UWMC. International Assets Investment Management LLC purchased a new position in shares of UWM in the 2nd quarter valued at approximately $52,000. Xponance Inc. purchased a new position in UWM in the 2nd quarter valued at $76,000. Intech Investment Management LLC purchased a new position in UWM during the 2nd quarter worth $85,000. Orion Portfolio Solutions LLC acquired a new stake in shares of UWM in the 3rd quarter worth $85,000. Finally, McAdam LLC lifted its stake in shares of UWM by 16.0% in the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock worth $88,000 after acquiring an additional 1,758 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.