Keefe, Bruyette & Woods Cuts UWM (NYSE:UWMC) Price Target to $2.75

UWM (NYSE:UWMC) had its target price cut by Keefe, Bruyette & Woods from $3.75 to $2.75 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently issued reports on UWMC. BTIG Research reduced their price objective on UWM from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Zacks Research lowered UWM from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $5.50 price target on shares of UWM in a research note on Thursday, May 7th. Barclays reduced their price target on UWM from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Citigroup raised UWM to an “outperform” rating in a research note on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.01.

UWM Stock Down 1.6%

UWMC stock opened at $1.50 on Monday. UWM has a 12-month low of $0.93 and a 12-month high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -18.81 and a beta of 1.78. The company has a 50 day moving average of $2.04 and a two-hundred day moving average of $3.27.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). UWM had a negative net margin of 1.04% and a negative return on equity of 5.61%. The company had revenue of $162.13 million for the quarter, compared to analyst estimates of $727.46 million. On average, equities analysts anticipate that UWM will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On UWM

A number of large investors have recently bought and sold shares of UWMC. Dimensional Fund Advisors LP raised its position in shares of UWM by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock valued at $243,000 after purchasing an additional 2,329 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of UWM by 4.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock worth $225,000 after buying an additional 2,407 shares during the period. Allworth Financial LP boosted its holdings in shares of UWM by 62.5% during the 4th quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock worth $30,000 after buying an additional 2,602 shares during the period. Choreo LLC grew its stake in UWM by 16.1% in the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock valued at $84,000 after buying an additional 2,637 shares during the last quarter. Finally, Fortem Financial Group LLC grew its stake in UWM by 29.5% in the 4th quarter. Fortem Financial Group LLC now owns 16,685 shares of the company’s stock valued at $73,000 after buying an additional 3,800 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

About UWM

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.