UWM (NYSE:UWMC) Given "Sell (D+)" Rating at Weiss Ratings

Key Points

• UWM's stock has been given a "Sell (D+)" rating by Weiss Ratings, which was reiterated in a recent note to investors.
• The company recently had earnings that beat consensus estimates, reporting $0.16 earnings per share (EPS) compared to the expected $0.06.
• Insider trading activity includes CEO Ishbia Mat selling over 596,000 shares, reducing his ownership by more than 10%, amidst a total of 16.76 million shares sold by insiders in the past 90 days.

UWM (NYSE:UWMC - Get Free Report)'s stock had its "sell (d+)" rating reiterated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on UWMC. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley cut shares of UWM from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $4.50 to $6.50 in a report on Monday, September 29th. 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 report on Wednesday, July 2nd. Barclays raised their price target on shares of UWM from $6.00 to $7.00 and gave the stock an "overweight" rating in a report on Monday. Finally, BTIG Research restated a "buy" rating and issued a $10.00 price target on shares of UWM in a report on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.32.

UWM Trading Up 1.0%

Shares of UWMC stock traded up $0.06 during trading hours on Wednesday, hitting $5.41. 5,577,189 shares of the company's stock traded hands, compared to its average volume of 6,364,345. The stock's 50 day simple moving average is $5.70 and its 200 day simple moving average is $4.88. The stock has a market cap of $8.64 billion, a PE ratio of -107.90 and a beta of 1.79. UWM has a 12 month low of $3.80 and a 12 month high of $7.60. 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 (NYSE:UWMC - Get Free Report) last released its quarterly 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 firm had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. On average, sell-side analysts anticipate that UWM will post 0.2 EPS for the current year.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $5.69, for a total value of $3,393,265.64. Following the sale, the chief executive officer owned 5,156,088 shares of the company's stock, valued at approximately $29,338,140.72. The trade was a 10.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 16,764,552 shares of company stock valued at $92,117,511 over the last 90 days. Insiders own 94.11% of the company's stock.

Hedge Funds Weigh In On UWM

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after buying an additional 2,958 shares in the last quarter. Raymond James Financial Inc. bought a new stake in UWM during the 2nd quarter valued at $35,000. Signaturefd LLC raised its holdings in UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after buying an additional 4,693 shares during the last quarter. R Squared Ltd bought a new stake in UWM during the 2nd quarter valued at $51,000. Finally, Quarry LP bought a new stake in UWM during the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.