UWM (NYSE:UWMC) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of UWM (NYSE:UWMC) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

Several other analysts have also recently issued reports on UWMC. The Goldman Sachs Group reissued a “neutral” rating and set a $1.50 price objective on shares of UWM in a research note on Wednesday, November 4th. Stephens cut their target price on UWM from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Citizens Jmp upgraded UWM from a “market perform” rating to an “outperform” rating and set a $3.00 target price on the stock in a report on Wednesday, July 29th. Compass Point downgraded UWM from a “buy” rating to a “neutral” rating and set a $1.50 price target for the company. in a research report on Tuesday, October 27th. Finally, Barclays lowered their price target on UWM from $4.00 to $2.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.45.

UWM Trading Down 3.0%

NYSE UWMC opened at $1.48 on Friday. UWM has a 12 month low of $0.93 and a 12 month high of $6.15. The company has a 50-day moving average of $1.31 and a 200-day moving average of $2.69. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market cap of $2.37 billion, a P/E ratio of 73.75, a P/E/G ratio of 3.45 and a beta of 1.82.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. UWM had a net margin of 0.55% and a return on equity of 4.24%. The firm had revenue of $811.09 million during the quarter, compared to the consensus estimate of $690.29 million. As a group, equities analysts predict that UWM will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On UWM

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in UWM by 127.4% in the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock worth $25,231,000 after buying an additional 3,905,286 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in shares of UWM by 0.5% during the first quarter. Integrated Investment Consultants LLC now owns 5,371,664 shares of the company’s stock valued at $19,445,000 after acquiring an additional 26,679 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of UWM during the second quarter worth about $4,593,000. Squarepoint Ops LLC increased its position in shares of UWM by 179.6% during the second quarter. Squarepoint Ops LLC now owns 1,774,823 shares of the company’s stock worth $4,064,000 after acquiring an additional 1,140,136 shares during the last quarter. Finally, Signature Equity Partners LLC lifted its stake in shares of UWM by 20.5% in the first quarter. Signature Equity Partners LLC now owns 925,864 shares of the company’s stock worth $3,352,000 after acquiring an additional 157,262 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Company Profile

UWM Holdings Corporation operates United Wholesale Mortgage, a mortgage lender that works through independent mortgage brokers rather than originating loans directly for consumers. The company provides residential mortgage products for home purchases and refinancings, along with technology and operational support to help brokers guide borrowers through the lending process.

Its offerings include conventional, government-backed and jumbo home loans. UWM serves brokers and borrowers across the United States, using its wholesale model to connect mortgage professionals with loan processing, underwriting and closing services.

United Wholesale Mortgage traces its roots to 1986 and is headquartered in Pontiac, Michigan.