UWM (NYSE:UWMC) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of UWM (NYSE:UWMC) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on UWMC. Zacks Research downgraded UWM from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $5.50 price target on shares of UWM in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of UWM from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Barclays cut their price target on shares of UWM from $4.00 to $2.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, BTIG Research reduced their price objective on shares of UWM from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.01.

UWM Stock Down 2.1%

Shares of NYSE:UWMC opened at $1.59 on Friday. UWM has a 52 week low of $0.93 and a 52 week high of $7.14. The company has a debt-to-equity ratio of 6.05, a quick ratio of 1.52 and a current ratio of 1.64. The company has a market cap of $2.55 billion, a PE ratio of -19.94 and a beta of 1.78. The firm has a 50 day simple moving average of $2.00 and a 200 day simple moving average of $3.23.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). UWM had a negative net margin of 1.04% and a negative return on equity of 6.20%. The business had revenue of $162.13 million for the quarter, compared to analyst estimates of $727.46 million. As a group, research analysts expect that UWM will post 0.24 earnings per share for the current year.

Institutional Trading of UWM

Hedge funds have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. bought a new position in UWM during the second quarter worth $25,000. Bank of New York Mellon Corp acquired a new position in shares of UWM during the second quarter valued at about $4,593,000. FNY Investment Advisers LLC raised its position in shares of UWM by 5.5% during the second quarter. FNY Investment Advisers LLC now owns 302,000 shares of the company’s stock valued at $691,000 after buying an additional 15,700 shares during the last quarter. 180 Wealth Advisors LLC raised its position in shares of UWM by 62.0% during the second quarter. 180 Wealth Advisors LLC now owns 482,521 shares of the company’s stock valued at $1,105,000 after buying an additional 184,694 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its stake in shares of UWM by 2,453.8% in the second quarter. CoreCap Advisors LLC now owns 51,332 shares of the company’s stock valued at $118,000 after buying an additional 49,322 shares during the period. Institutional investors own 53.59% of the company’s stock.

Key UWM News

Here are the key news stories impacting UWM this week:

• Positive Sentiment: UWM is reportedly seeking a roughly $2 billion capital lifeline following a costly interest-rate hedging strategy. Additional funding could help strengthen liquidity and address shareholder concerns, although it may also come with significant financing costs or dilution. US mortgage giant UWM seeks $2B lifeline after disastrous interest-rate bet

About UWM

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.