UWM Holdings Corporation (NYSE:UWMC) Stock Has Average Price Target of $3.76 According to Brokerages

Key Points

• Analyst sentiment is neutral: Fourteen brokerages give UWM Holdings an average “Hold” rating, with nine holds, four buys and one sell. The average 12-month price target is $3.76.
• UWMC shares remain under pressure: The stock opened at $1.16, compared with a 12-month range of $0.93 to $6.15, and trades below both its 50-day and 200-day moving averages.
• Recent results were weak: UWM reported a quarterly loss of $0.23 per share, missing the $0.07 consensus estimate, despite revenue of $888 million exceeding expectations. Institutional investors own 53.59% of the company.

Shares of UWM Holdings Corporation (NYSE:UWMC - Get Free Report) have been assigned an average recommendation of "Hold" from the fourteen ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $3.76.

A number of research analysts have issued reports on the company. Wall Street Zen cut UWM from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Morgan Stanley set a $1.50 target price on UWM in a research note on Monday, October 12th. Weiss Ratings downgraded UWM from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Stephens dropped their price target on shares of UWM from $3.00 to $2.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in UWM by 6.0% during the first quarter. Cetera Investment Advisers now owns 159,891 shares of the company's stock valued at $579,000 after purchasing an additional 9,057 shares in the last quarter. HB Wealth Management LLC boosted its stake in UWM by 60.8% during the first quarter. HB Wealth Management LLC now owns 28,068 shares of the company's stock valued at $102,000 after buying an additional 10,609 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in UWM during the second quarter valued at approximately $25,000. Fifth Third Bancorp purchased a new position in UWM during the 1st quarter valued at approximately $41,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in UWM by 1,570.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,191 shares of the company's stock worth $53,000 after acquiring an additional 11,461 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

UWM Stock Performance

Shares of UWMC stock opened at $1.16 on Friday. The stock has a market cap of $1.85 billion, a PE ratio of -14.44 and a beta of 1.82. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 6.05. UWM has a 12 month low of $0.93 and a 12 month high of $6.15. The company's fifty day moving average price is $1.29 and its 200-day moving average price is $2.17.

UWM (NYSE:UWMC - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates 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 $888.00 million for the quarter, compared to the consensus estimate of $727.46 million. On average, equities analysts expect that UWM will post -0.06 EPS for the current fiscal year.

About UWM

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

United Wholesale Mortgage traces its history to 1986 and is headquartered in Pontiac, Michigan.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.