UWM (NYSE:UWMC) Now Covered by Stephens

Key Points

• Stephens initiated coverage with an equal weight rating and a $4.00 price target, implying roughly an 8.99% upside from the current price.
• CEO Ishbia sold 1,000,574 shares at about $3.70 on March 16, and insiders have offloaded 27,400,916 shares (~$112.5M) in the past 90 days, even though insiders still own 87.50% of the stock.
• UWM shares trade around $3.67 (market cap ~$5.87B); the company slightly missed quarterly EPS but beat revenue, and analysts’ consensus is a Hold with an average price target of $5.99.

Equities researchers at Stephens initiated coverage on shares of UWM (NYSE:UWMC - Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The firm set an "equal weight" rating and a $4.00 price target on the stock. Stephens' price objective indicates a potential upside of 8.99% from the stock's current price.

Several other research analysts have also weighed in on UWMC. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, February 28th. Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Jefferies Financial Group set a $4.40 target price on UWM in a report on Wednesday, February 25th. BTIG Research reissued a "buy" rating and issued a $10.00 price objective on shares of UWM in a research report on Tuesday, March 10th. Finally, The Goldman Sachs Group set a $5.00 target price on shares of UWM in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $5.99.

UWM Stock Down 0.3%

Shares of NYSE UWMC opened at $3.67 on Friday. The firm has a 50-day moving average price of $3.96 and a 200 day moving average price of $4.84. UWM has a 52 week low of $3.38 and a 52 week high of $7.14. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 61.17 and a beta of 1.93. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64.

UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The company had revenue of $945.25 million for the quarter, compared to analyst estimates of $759.12 million. Equities research analysts anticipate that UWM will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,000,574 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $3.70, for a total transaction of $3,702,123.80. Following the transaction, the chief executive officer directly owned 11,335,023 shares in the company, valued at approximately $41,939,585.10. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 27,400,916 shares of company stock valued at $112,469,538 over the last ninety days. Insiders own 87.50% of the company's stock.

Institutional Investors Weigh In On UWM

Several hedge funds and other institutional investors have recently made changes to their positions in UWMC. Allworth Financial LP increased its position in UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company's stock worth $25,000 after purchasing an additional 4,091 shares during the period. GAMMA Investing LLC raised its stake in shares of UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock worth $33,000 after buying an additional 4,344 shares during the last quarter. Raymond James Financial Inc. bought a new position in UWM in the second quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its holdings in UWM by 1,410.7% during the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company's stock worth $38,000 after acquiring an additional 8,027 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of UWM in the 3rd quarter valued at $38,000. 53.59% of the stock is owned by institutional investors and hedge funds.

About UWM

United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.

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