UWM (NYSE:UWMC) Upgraded by Zacks Research to Hold Rating

UWM (NYSE:UWMC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on UWMC. Barclays cut their price target on UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Weiss Ratings cut UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Jefferies Financial Group set a $4.40 target price on UWM in a research note on Wednesday, February 25th. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus target price of $6.49.

UWM Stock Performance

Shares of UWMC stock opened at $3.63 on Monday. The stock has a market capitalization of $5.80 billion, a P/E ratio of 60.47 and a beta of 1.90. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. The firm’s 50 day moving average is $4.47 and its 200 day moving average is $5.12. UWM has a 12 month low of $3.38 and a 12 month high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The business had revenue of $945.25 million during the quarter, compared to analysts’ expectations of $759.12 million. On average, sell-side analysts anticipate that UWM will post 0.2 earnings per share for the current year.

Insider Activity

In related news, CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $3.55, for a total transaction of $3,552,037.70. Following the completion of the sale, the chief executive officer owned 5,331,579 shares of the company’s stock, valued at approximately $18,927,105.45. This trade represents a 15.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 22,090,468 shares of company stock valued at $101,368,888 in the last quarter. Company insiders own 94.11% of the company’s stock.

Hedge Funds Weigh In On UWM

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of UWM by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after acquiring an additional 1,676,754 shares in the last quarter. Azora Capital LP grew its holdings in shares of UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after purchasing an additional 7,881,586 shares in the last quarter. Brandes Investment Partners LP bought a new position in shares of UWM in the fourth quarter worth approximately $45,867,000. Balyasny Asset Management L.P. raised its stake in UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in UWM during the third quarter valued at approximately $32,630,000. 53.59% of the stock is currently owned by institutional investors.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.