Barclays Has Lowered Expectations for UWM (NYSE:UWMC) Stock Price
by Michael Walen · The Markets DailyUWM (NYSE:UWMC – Get Free Report) had its price objective lowered by analysts at Barclays from $6.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 34.95% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings lowered shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Argus raised shares of UWM to a “hold” rating in a research report on Tuesday, March 31st. Finally, The Goldman Sachs Group set a $5.00 target price on shares of UWM in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.36.
Read Our Latest Stock Report on UWM
UWM Price Performance
UWM stock traded down $0.02 during mid-day trading on Monday, hitting $3.71. 1,924,130 shares of the company were exchanged, compared to its average volume of 18,841,104. UWM has a 12-month low of $3.38 and a 12-month high of $7.14. The company has a market capitalization of $5.93 billion, a P/E ratio of 61.58 and a beta of 1.93. The business’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $5.06. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52.
UWM (NYSE:UWMC – Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $945.25 million for the quarter, compared to analyst estimates of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. Analysts forecast that UWM will post 0.2 earnings per share for the current fiscal year.
Insider Transactions at UWM
In other news, CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $3.55, for a total value of $3,552,037.70. Following the completion of the transaction, the chief executive officer owned 2,329,857 shares in the company, valued at approximately $8,270,992.35. This trade represents a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,825,868 shares of company stock worth $102,811,994 in the last 90 days. Corporate insiders own 87.50% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP acquired a new stake in UWM in the fourth quarter worth $45,867,000. Azora Capital LP grew its position in shares of UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after acquiring an additional 7,881,586 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of UWM in the 3rd quarter worth about $32,630,000. Renaissance Technologies LLC bought a new stake in UWM in the 4th quarter valued at about $21,580,000. Finally, 683 Capital Management LLC acquired a new position in UWM during the 2nd quarter valued at about $19,872,000. Institutional investors and hedge funds own 53.59% of the company’s stock.
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.