UWM (NYSE:UWMC) Stock Rating Lowered by Morgan Stanley

Key Points

• Morgan Stanley has downgraded UWM's stock rating from "overweight" to "equal weight", with a target price of $6.50.
• The stock currently has a market capitalization of $9.72 billion, with shares recently trading at $6.08, down 2.6%.
• Insider trading activity showed CEO Ishbia Mat sold 596,356 shares at an average price of $6.42, reducing their holdings by 16.02%.

UWM (NYSE:UWMC - Get Free Report) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $6.50 target price on the stock. Morgan Stanley's price objective would suggest a potential upside of 7.00% from the stock's previous close.

UWMC has been the subject of a number of other reports. Barclays raised shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a research note on Tuesday, July 8th. The Goldman Sachs Group reduced their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. BTIG Research reaffirmed a "buy" rating and issued a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $6.18.

UWM Trading Down 2.6%

Shares of UWM stock traded down $0.17 on Monday, hitting $6.08. 1,946,943 shares of the company's stock traded hands, compared to its average volume of 6,167,876. The firm's 50-day moving average price is $5.49 and its two-hundred day moving average price is $4.88. The stock has a market capitalization of $9.72 billion, a PE ratio of -121.74 and a beta of 1.75. UWM has a one year low of $3.80 and a one year high of $8.64. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55.

UWM (NYSE:UWMC - Get Free Report) last announced 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 company had revenue of $758.70 million during the quarter, compared to analyst estimates of $621.60 million. On average, research analysts expect that UWM will post 0.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $6.42, for a total transaction of $3,828,605.52. Following the sale, the chief executive officer owned 3,126,936 shares in the company, valued at approximately $20,074,929.12. This trade represents a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 14,982,880 shares of company stock worth $79,136,161. Company insiders own 94.11% of the company's stock.

Institutional Trading of UWM

Hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. raised its stake in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the last quarter. 683 Capital Management LLC bought a new position in shares of UWM during the second quarter valued at $19,872,000. Bank of America Corp DE raised its stake in shares of UWM by 93.8% during the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock valued at $15,561,000 after acquiring an additional 1,819,129 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after acquiring an additional 2,296,205 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of UWM by 47.5% during the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company's stock valued at $9,997,000 after acquiring an additional 777,264 shares during 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.

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.