UWM (NYSE:UWMC) Price Target Lowered to $5.00 at Barclays

Key Points

• Barclays cut its price target for UWM from $6.00 to $5.00 while keeping an overweight rating, a target that implies roughly a 35% upside from the prior close.
• UWM shares traded at $3.71 (down 0.4%) and carry a MarketBeat consensus rating of Hold with a consensus price target of $6.36, reflecting mixed analyst views (3 Buys, 7 Holds, 1 Sell).
• There has been heavy insider selling—CEO Ishbia Mat sold 1,000,574 shares and insiders sold 22,825,868 shares over the last 90 days—yet insiders still own 87.5% of the company.

UWM (NYSE:UWMC - Get Free Report) had its price objective decreased by equities research analysts at Barclays from $6.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 34.95% from the stock's previous close.

A number of other research analysts have also recently weighed in on UWMC. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, February 28th. Zacks Research raised shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Morgan Stanley set a $6.00 price target on shares of UWM in a research note on Tuesday, December 16th. Jefferies Financial Group set a $4.40 price objective on shares of UWM in a report on Wednesday, February 25th. Finally, Weiss Ratings cut UWM from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, UWM currently has an average rating of "Hold" and a consensus target price of $6.36.

UWM Stock Down 0.4%

UWM stock traded down $0.02 during trading hours on Monday, reaching $3.71. The stock had a trading volume of 1,924,130 shares, compared to its average volume of 18,841,104. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 61.58 and a beta of 1.93. The business's 50 day moving average price is $4.35 and its 200-day moving average price is $5.06. UWM has a 52 week low of $3.38 and a 52 week high of $7.14.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share (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. Sell-side analysts anticipate that UWM will post 0.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 1,000,574 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $3.70, for a total transaction of $3,702,123.80. Following the sale, the chief executive officer owned 11,335,023 shares of the company's stock, valued at approximately $41,939,585.10. This trade represents a 8.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 22,825,868 shares of company stock valued at $102,811,994 over the last 90 days. Corporate insiders own 87.50% of the company's stock.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in UWM by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company's stock valued at $243,000 after buying an additional 2,329 shares during the period. Public Employees Retirement System of Ohio increased its position in UWM by 4.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company's stock worth $225,000 after purchasing an additional 2,407 shares during the period. Allworth Financial LP raised its stake in shares of UWM by 62.5% during the 4th quarter. Allworth Financial LP now owns 6,765 shares of the company's stock worth $30,000 after buying an additional 2,602 shares in the last quarter. Choreo LLC lifted its holdings in UWM by 16.1% in the fourth quarter. Choreo LLC now owns 19,017 shares of the company's stock valued at $84,000 after acquiring an additional 2,637 shares during the period. Finally, State of Wyoming grew its stake in shares of UWM by 24.9% during the 3rd quarter. State of Wyoming now owns 14,552 shares of the company's stock worth $89,000 after purchasing an additional 2,902 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Company Profile

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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