UWM (NYSE:UWMC) Rating Increased to Outperform at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $7.50 price objective on the stock, up from their prior price objective of $6.50. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 16.37% from the company’s previous close.

A number of other analysts also recently weighed in on UWMC. The Goldman Sachs Group reduced 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. Morgan Stanley reduced their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UWM currently has a consensus rating of “Hold” and an average price target of $7.25.

UWM Stock Down 1.9 %

Shares of NYSE UWMC opened at $6.45 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. UWM has a 12 month low of $5.31 and a 12 month high of $9.74. The firm has a market capitalization of $10.30 billion, a PE ratio of -28.02 and a beta of 1.66. The firm has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $6.92.

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

Institutional Trading of UWM

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in UWM by 56.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company’s stock valued at $3,541,000 after purchasing an additional 149,216 shares during the last quarter. Carrera Capital Advisors purchased a new stake in shares of UWM during the 3rd quarter valued at about $1,727,000. Point72 Asset Management L.P. purchased a new stake in shares of UWM during the 3rd quarter valued at about $1,065,000. Geode Capital Management LLC boosted its holdings in shares of UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after acquiring an additional 41,206 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of UWM by 446.3% during the 3rd quarter. Verition Fund Management LLC now owns 159,666 shares of the company’s stock valued at $1,360,000 after acquiring an additional 130,439 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.