Wall Street Zen Downgrades UWM (NYSE:UWMC) to Strong Sell

UWM (NYSE:UWMC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research note issued on Saturday.

UWMC has been the subject of a number of other reports. Barclays raised their target price on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $4.50 to $6.50 in a research note on Monday, September 29th. BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of UWM in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Finally, Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, UWM currently has a consensus rating of “Hold” and an average price target of $6.54.

UWM Trading Down 0.9%

Shares of UWM stock opened at $5.10 on Friday. The business has a fifty day simple moving average of $5.88 and a 200-day simple moving average of $5.00. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of -101.90 and a beta of 1.79. UWM has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $151.14 million during the quarter, compared to analyst estimates of $651.51 million. On average, equities analysts forecast that UWM will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 596,356 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $6.84, for a total transaction of $4,079,075.04. Following the transaction, the chief executive officer directly owned 6,705,072 shares in the company, valued at $45,862,692.48. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 18,909,280 shares of company stock worth $111,145,763 over the last 90 days. Corporate insiders own 87.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UWMC. GAMMA Investing LLC boosted its position in UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after purchasing an additional 4,344 shares during the period. Raymond James Financial Inc. bought a new position in UWM in the 2nd quarter worth $35,000. Signaturefd LLC raised its holdings in UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after acquiring an additional 4,693 shares during the period. R Squared Ltd acquired a new position in UWM during the 2nd quarter worth $51,000. Finally, Quarry LP bought a new stake in UWM during the first quarter valued at about $53,000. 53.59% of the stock is owned by institutional investors.

UWM Company Profile

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.