UWM (NYSE:UWMC) Price Target Lowered to $7.50 at The Goldman Sachs Group

UWM (NYSE:UWMC) had its target price decreased by The Goldman Sachs Group from $8.50 to $7.50 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 27.12% from the company’s previous close.

Several other research analysts have also recently issued reports on UWMC. Keefe, Bruyette & Woods increased their price target on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Barclays raised 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 note on Tuesday, October 8th. BTIG Research raised their price objective on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Wedbush boosted their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.53.

UWM Stock Performance

Shares of UWMC remained flat at $5.90 during mid-day trading on Thursday. The stock had a trading volume of 576,482 shares, compared to its average volume of 1,946,302. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm’s 50 day simple moving average is $7.57 and its 200-day simple moving average is $7.68. The company has a market cap of $564.10 million, a PE ratio of -25.65 and a beta of 1.67. UWM has a 52 week low of $5.42 and a 52 week high of $9.74.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of UWM by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after purchasing an additional 3,207 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after acquiring an additional 67,383 shares during the last quarter. Quadrature Capital Ltd increased its stake in UWM by 124.3% in the first quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after purchasing an additional 30,361 shares in the last quarter. SG Americas Securities LLC raised its stake in UWM by 1,743.3% during the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after buying an additional 226,819 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after buying an additional 199,900 shares in the last quarter. 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.