UWM (NYSE:UWMC) Rating Increased to Hold at Zacks Research

Key Points

• UWM has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, indicating a more favorable view of the company's stock.
• The average target price for UWM stock is currently $6.32, with a consensus rating of "hold" from analysts.
• CEO Ishbia Mat sold over 596,000 shares of UWM, representing a 13.08% decrease in their ownership, amid a backdrop of significant recent insider transactions.

UWM (NYSE:UWMC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. The Goldman Sachs Group dropped their target price on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Weiss Ratings restated a "sell (d+)" rating on shares of UWM in a research note on Wednesday. Barclays lifted their price objective on shares of UWM from $6.00 to $7.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Morgan Stanley lowered UWM from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $4.50 to $6.50 in a report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.32.

UWM Stock Performance

UWMC stock opened at $5.39 on Tuesday. The firm has a 50 day simple moving average of $5.73 and a 200 day simple moving average of $4.88. UWM has a 52 week low of $3.80 and a 52 week high of $7.60. The stock has a market cap of $8.62 billion, a P/E ratio of -107.80 and a beta of 1.79. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. Research analysts anticipate that UWM will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $5.40, for a total value of $3,220,322.40. Following the completion of the sale, the chief executive officer owned 3,963,376 shares in the company, valued at approximately $21,402,230.40. This trade represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 17,360,908 shares of company stock valued at $95,337,834. Company insiders own 87.50% of the company's stock.

Institutional Trading of UWM

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of UWM by 14.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 55,858 shares of the company's stock valued at $328,000 after purchasing an additional 6,976 shares in the last quarter. GAMMA Investing LLC increased its holdings in UWM by 1,002.0% in the 1st quarter. GAMMA Investing LLC now owns 32,012 shares of the company's stock valued at $175,000 after buying an additional 29,107 shares during the period. Merit Financial Group LLC acquired a new position in shares of UWM in the 1st quarter valued at $163,000. Pallas Capital Advisors LLC bought a new position in shares of UWM during the 1st quarter worth about $258,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of UWM by 15.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock valued at $2,229,000 after acquiring an additional 54,160 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company's stock.

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.

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