UWM's (UWMC) "Neutral" Rating Reaffirmed at Wedbush

UWM (NYSE:UWMC - Get Free Report)'s stock had its "neutral" rating reaffirmed by Wedbush in a report issued on Friday, Benzinga reports. They currently have a $7.00 price objective on the stock. Wedbush's price target would suggest a potential downside of 2.17% from the company's current price.

Separately, Keefe, Bruyette & Woods restated a "market perform" rating and set a $7.00 price target (up previously from $6.00) on shares of UWM in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.83.

UWM Stock Down 0.9 %

Shares of NYSE:UWMC traded down $0.06 during trading on Friday, reaching $7.16. 1,305,896 shares of the company traded hands, compared to its average volume of 1,736,790. The firm has a fifty day simple moving average of $6.73 and a 200 day simple moving average of $6.47. The firm has a market cap of $683.87 million, a P/E ratio of 236.33 and a beta of 1.62. UWM has a 1-year low of $4.49 and a 1-year high of $7.75. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.90.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.26). The company had revenue of ($114.58) million for the quarter, compared to analyst estimates of $402.14 million. UWM had a net margin of 0.79% and a return on equity of 6.96%. Analysts anticipate that UWM will post 0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UWMC. Vanguard Group Inc. increased its holdings in shares of UWM by 0.3% during the 3rd 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 during the period. FMR LLC boosted its position in shares of UWM by 30.6% during the 3rd 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 position in shares of 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 in the last quarter. Azora Capital LP acquired a new stake in shares of UWM during the 4th quarter valued at about $6,705,000. Finally, Bank of New York Mellon Corp boosted 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. 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.