UWM (NYSE:UWMC) Receives “Neutral” Rating from Wedbush

UWM (NYSE:UWMC)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Monday,Benzinga reports. They presently have a $6.50 price objective on the stock. Wedbush’s target price indicates a potential upside of 3.50% from the company’s previous close.

Other analysts have also recently issued reports about the company. Morgan Stanley lowered their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $6.50 to $7.50 in a research note on Monday. Finally, The Goldman Sachs Group decreased their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.25.

UWM Price Performance

NYSE:UWMC opened at $6.28 on Monday. 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 one year low of $5.31 and a one year high of $9.74. The company has a fifty day moving average price of $6.07 and a 200 day moving average price of $6.96. The stock has a market cap of $10.04 billion, a P/E ratio of -27.30 and a beta of 1.66.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million. Analysts anticipate that UWM will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in UWM by 16.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,047 shares of the company’s stock worth $1,157,000 after buying an additional 27,531 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in UWM by 9.9% in the fourth quarter. Voloridge Investment Management LLC now owns 699,778 shares of the company’s stock worth $4,108,000 after purchasing an additional 62,978 shares during the period. Trace Wealth Advisors LLC bought a new position in shares of UWM during the fourth quarter worth $132,000. Sherbrooke Park Advisers LLC increased its position in shares of UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock valued at $118,000 after buying an additional 2,975 shares in the last quarter. Finally, Prana Capital Management LP grew its stake in UWM by 180.2% in the fourth quarter. Prana Capital Management LP now owns 177,442 shares of the company’s stock valued at $1,042,000 after acquiring an additional 114,106 shares during the period. 53.59% of the stock is currently owned by institutional investors.

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.