UWM (NYSE:UWMC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded UWM from a "strong sell" to a "hold"; the stock's consensus rating is "Hold" with an average analyst target price of $6.49 (3 Buys, 6 Holds, 1 Sell).
• UWM missed Q earnings expectations with EPS of $0.08 versus $0.09 estimated but reported revenue of $945.3M, above the $759.1M consensus.
• Significant insider selling occurred recently: CEO Ishbia sold 1,000,574 shares at about $3.55, and insiders have sold ~22.09M shares worth ~$101.4M in the past 90 days.

UWM (NYSE:UWMC - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on UWMC. Compass Point assumed coverage on shares of UWM in a research report on Tuesday, March 10th. They set a "buy" rating and a $8.50 target price on the stock. BTIG Research reaffirmed a "buy" rating and issued a $10.00 target price on shares of UWM in a report on Tuesday, March 10th. The Goldman Sachs Group set a $5.00 price target on UWM in a research report on Tuesday, January 6th. Barclays cut their price objective on UWM from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Finally, Morgan Stanley set a $6.00 price objective on UWM in a research note on Tuesday, December 16th. Three investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.49.

UWM Stock Performance

Shares of UWMC stock opened at $3.63 on Monday. 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 firm has a 50-day moving average of $4.47 and a 200-day moving average of $5.12. UWM has a one year low of $3.38 and a one year high of $7.14. The company has a market cap of $5.80 billion, a P/E ratio of 60.47 and a beta of 1.90.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The firm had revenue of $945.25 million for the quarter, compared to analysts' expectations of $759.12 million. Equities research analysts forecast that UWM will post 0.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $3.55, for a total value of $3,552,037.70. Following the sale, the chief executive officer owned 5,331,579 shares of the company's stock, valued at approximately $18,927,105.45. The trade was a 15.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 22,090,468 shares of company stock worth $101,368,888. Company insiders own 94.11% of the company's stock.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 buying an additional 4,091 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock valued at $33,000 after buying an additional 4,344 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of UWM during the 3rd quarter worth $38,000. Raymond James Financial Inc. purchased a new stake in UWM in the 2nd quarter worth about $35,000. Finally, Farther Finance Advisors LLC increased its holdings in UWM by 1,410.7% in 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 last quarter. 53.59% of the stock is owned by 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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