UWM (NYSE:UWMC) Given Buy Rating at BTIG Research

Key Points

• BTIG Research has reiterated a "buy" rating for UWM, setting a price target of $10.00, which translates to a potential upside of 58.35% from the stock's previous closing price.
• Other analysts recently gave mixed ratings for UWM, with Barclays upgrading it to "overweight" and Keefe, Bruyette & Woods downgrading it to "market perform." This results in a current consensus rating of "Hold."
• UWM's CEO sold over 596,000 shares in a recent transaction, indicating a 12.13% decrease in his ownership stake in the company.

UWM (NYSE:UWMC - Get Free Report)'s stock had its "buy" rating reiterated by BTIG Research in a research note issued on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. BTIG Research's price target indicates a potential upside of 58.35% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a report on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, The Goldman Sachs Group reduced their price target on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, UWM presently has a consensus rating of "Hold" and an average price target of $6.18.

UWM Trading Down 1.3%

NYSE UWMC opened at $6.32 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM has a 52 week low of $3.80 and a 52 week high of $8.73. The stock has a market capitalization of $10.10 billion, a PE ratio of -126.30 and a beta of 1.75. The firm has a 50 day moving average of $5.32 and a two-hundred day moving average of $4.86.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $758.70 million during the quarter, compared to analysts' expectations of $621.60 million. As a group, research analysts expect that UWM will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88. Following the sale, the chief executive officer directly owned 4,319,648 shares of the company's stock, valued at approximately $26,911,407.04. This represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 15,586,632 shares of company stock valued at $80,264,001. 94.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UWM

A number of large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in UWM by 24.0% in the 2nd quarter. Osaic Holdings Inc. now owns 43,793 shares of the company's stock valued at $181,000 after acquiring an additional 8,473 shares during the last quarter. EVR Research LP acquired a new stake in UWM in the 2nd quarter valued at about $4,189,000. Brevan Howard Capital Management LP grew its stake in UWM by 227.8% in the 2nd quarter. Brevan Howard Capital Management LP now owns 601,168 shares of the company's stock valued at $2,489,000 after acquiring an additional 417,789 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock worth $15,561,000 after purchasing an additional 1,819,129 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Company Profile

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.

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