UWM (NYSE:UWMC) Earns Market Perform Rating from Keefe, Bruyette & Woods

UWM (NYSE:UWMC)‘s stock had its “market perform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday, Benzinga reports. They presently have a $7.00 price objective on the stock, up from their previous price objective of $6.00. Keefe, Bruyette & Woods’ target price suggests a potential downside of 5.41% from the stock’s current price.

Separately, Wedbush restated a “neutral” rating and set a $7.00 target price on shares of UWM in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, UWM currently has a consensus rating of “Hold” and an average price target of $5.65.

UWM Stock Down 1.5 %

Shares of UWMC stock opened at $7.40 on Friday. The stock has a market cap of $702.63 million, a P/E ratio of -38.95 and a beta of 1.62. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average of $6.66 and a 200 day moving average of $6.39. UWM has a twelve month low of $4.49 and a twelve month high of $7.75.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.26). UWM had a net margin of 0.79% and a return on equity of 2.45%. The business had revenue of ($114.58) million during the quarter, compared to analyst estimates of $402.14 million. As a group, sell-side analysts expect that UWM will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of UWM by 0.3% during the third quarter. Vanguard Group Inc. now owns 8,842,460 shares of the company’s stock worth $42,886,000 after purchasing an additional 28,071 shares in the last quarter. FMR LLC grew its stake in shares of UWM by 30.6% during the third quarter. FMR LLC now owns 6,077,084 shares of the company’s stock valued at $29,474,000 after acquiring an additional 1,424,451 shares in the last quarter. Victory Capital Management Inc. boosted its stake in UWM by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock valued at $15,202,000 after acquiring an additional 81,799 shares during the last quarter. Azora Capital LP acquired a new position in UWM in the fourth quarter worth about $6,705,000. Finally, Bank of New York Mellon Corp raised its position in shares of UWM by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 846,758 shares of the company’s stock valued at $4,107,000 after acquiring an additional 14,623 shares in the last quarter. Hedge funds and other 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.