UWM's (UWMC) "Sell (D+)" Rating Reaffirmed at Weiss Ratings

Key Points

• UWM's stock was reaffirmed with a "Sell (D+)" rating by Weiss Ratings, indicating ongoing concerns about the company's performance.
• Recently, UWM's price objectives were adjusted by several analysts, with UBS raising it from $4.50 to $5.50 and Barclays increasing it from $6.00 to $7.00.
• The stock experienced a slight rise of 1.0%, trading at $5.82, with a recent trading volume of over 5 million shares.

UWM (NYSE:UWMC - Get Free Report)'s stock had its "sell (d+)" rating restated by equities researchers at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

UWMC has been the topic of several other research reports. UBS Group upped their price objective on UWM from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Friday, October 10th. Barclays raised their price objective on UWM from $6.00 to $7.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. Zacks Research upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Finally, Morgan Stanley cut shares of UWM from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.46.

UWM Stock Up 1.0%

Shares of NYSE:UWMC traded up $0.06 during midday trading on Friday, reaching $5.82. The company had a trading volume of 5,334,902 shares, compared to its average volume of 6,491,910. The stock has a market capitalization of $9.30 billion, a P/E ratio of -116.30 and a beta of 1.79. The stock's fifty day moving average price is $5.92 and its 200-day moving average price is $4.88. 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 has a one year low of $3.80 and a one year high of $7.14.

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

Insiders Place Their Bets

In related news, CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $5.73, for a total value of $3,417,119.88. Following the completion of the transaction, the chief executive officer owned 4,799,816 shares in the company, valued at $27,502,945.68. This represents a 11.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 18,138,792 shares of company stock valued at $102,809,740 over the last three months. Corporate insiders own 87.50% of the company's stock.

Institutional Trading of UWM

A number of institutional investors have recently made changes to their positions in UWMC. 683 Capital Management LLC acquired a new position in shares of UWM during the second quarter valued at approximately $19,872,000. Balyasny Asset Management L.P. boosted its stake in UWM by 116.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. AQR Capital Management LLC increased its position in shares of UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after purchasing an additional 2,296,205 shares during the period. Azora Capital LP bought a new stake in shares of UWM in the 2nd quarter worth $9,032,000. Finally, Bank of America Corp DE raised its stake in shares of UWM by 93.8% in the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock worth $15,561,000 after buying an additional 1,819,129 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

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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