UWM (NYSE:UWMC) Stock Rating Lowered by Keefe, Bruyette & Woods

UWM (NYSE:UWMC - Get Free Report) was downgraded by investment analysts at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a report issued on Thursday, Marketbeat.com reports. They presently have a $4.50 price objective on the stock, down from their prior price objective of $6.50. Keefe, Bruyette & Woods' price objective points to a potential upside of 8.46% from the company's previous close.

UWMC has been the topic of a number of other research reports. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and cut their price target for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price on the stock in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, UWM currently has an average rating of "Hold" and an average price target of $6.18.

UWM Stock Performance

NYSE UWMC traded down $0.11 on Thursday, reaching $4.15. The stock had a trading volume of 8,395,864 shares, compared to its average volume of 3,897,839. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.50 and a current ratio of 1.50. UWM has a 1 year low of $3.80 and a 1 year high of $9.74. The business has a 50 day moving average price of $4.20 and a 200 day moving average price of $5.19.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. The firm had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. On average, equities analysts expect that UWM will post 0.2 EPS for the current year.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 400,036 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $4.26, for a total value of $1,704,153.36. Following the sale, the chief executive officer owned 2,699,460 shares in the company, valued at approximately $11,499,699.60. This trade represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 3,600,324 shares of company stock worth $14,853,337 in the last three months. 87.50% of the stock is owned by insiders.

Institutional Trading of UWM

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after buying an additional 2,958 shares during the last quarter. Signaturefd LLC increased its stake in UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after acquiring an additional 4,693 shares during the period. Quarry LP acquired a new position in UWM in the 1st quarter valued at approximately $53,000. Focus Partners Wealth bought a new stake in UWM in the first quarter valued at about $55,000. Finally, Independent Advisor Alliance bought a new position in UWM during the first quarter worth about $58,000. 53.59% of the stock is owned by 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.