UWM (NYSE:UWMC) Rating Increased to Outperform at Citizens Jmp

Key Points

• Citizens JMP upgraded UWM to “outperform” from “market perform” and set a $3.00 price target, implying approximately 60.7% upside from the $1.87 share price.
• Analyst sentiment remains mixed: six firms rate UWM a Buy, seven a Hold, and one a Sell, producing an overall “Hold” consensus and a higher average price target of $4.65.
• UWM recently exceeded quarterly expectations, reporting $0.09 in earnings per share versus a $0.06 estimate and $901.4 million in revenue versus a $709.9 million consensus forecast.

UWM (NYSE:UWMC - Get Free Report) was upgraded by Citizens Jmp from a "market perform" rating to an "outperform" rating in a research note issued on Wednesday, MarketBeat.com reports. The firm currently has a $3.00 price target on the stock. Citizens Jmp's target price suggests a potential upside of 60.69% from the company's current price.

Several other research firms also recently commented on UWMC. Stephens initiated coverage on UWM in a report on Friday, April 24th. They set an "equal weight" rating and a $4.00 price objective on the stock. Keefe, Bruyette & Woods upgraded shares of UWM from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $4.50 to $3.75 in a report on Thursday, June 25th. Barclays cut their price objective on shares of UWM from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Citigroup upgraded UWM to an "outperform" rating in a report on Wednesday. Finally, Morgan Stanley dropped their target price on UWM from $5.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, UWM presently has an average rating of "Hold" and a consensus target price of $4.65.

UWM Trading Up 1.5%

Shares of UWMC opened at $1.87 on Wednesday. UWM has a 1-year low of $1.72 and a 1-year high of $7.14. The company has a 50-day moving average of $2.34 and a 200 day moving average of $3.58. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 6.92 and a beta of 1.76. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 19.01%. The business had revenue of $901.43 million for the quarter, compared to the consensus estimate of $709.85 million. On average, research analysts expect that UWM will post 0.34 EPS for the current year.

Insider Activity

In related news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $3.39, for a total transaction of $3,401,298.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 4,945,084 shares of company stock valued at $17,576,339. Insiders own 80.30% of the company's stock.

Institutional Trading of UWM

Institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new position in UWM during the third quarter worth $12,237,000. Vanguard Group Inc. grew its position in shares of UWM by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company's stock valued at $83,042,000 after purchasing an additional 1,676,754 shares during the period. Great Hill Capital LLC increased its stake in shares of UWM by 9,900.0% during the fourth quarter. Great Hill Capital LLC now owns 2,000,000 shares of the company's stock worth $88,000 after purchasing an additional 1,980,000 shares in the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in shares of UWM during the 4th quarter worth about $5,695,000. Finally, UBS Group AG raised its position in shares of UWM by 93.8% during the 4th quarter. UBS Group AG now owns 3,347,300 shares of the company's stock worth $14,661,000 after purchasing an additional 1,620,003 shares during the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

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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