UWM (NYSE:UWMC) Upgraded by Citizens Jmp to Outperform Rating

UWM (NYSE:UWMC) was upgraded by Citizens Jmp from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat reports. The brokerage presently has a $3.00 price target on the stock. Citizens Jmp’s price objective points to a potential upside of 60.69% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price target on shares of UWM in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $5.50 target price on shares of UWM in a report on Thursday, May 7th. Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $4.50 to $3.75 in a research note on Thursday, June 25th. Argus upgraded UWM to a “hold” rating in a report on Tuesday, March 31st. Finally, Citigroup raised shares of UWM to an “outperform” rating in a research report on Wednesday. Six investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.65.

UWM Stock Performance

Shares of NYSE:UWMC opened at $1.87 on Wednesday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. UWM has a 1 year low of $1.72 and a 1 year high of $7.14. The firm has a market capitalization of $2.99 billion, a PE ratio of 6.92 and a beta of 1.76. The business’s 50 day moving average price is $2.34 and its 200-day moving average price is $3.58.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. UWM had a return on equity of 19.01% and a net margin of 1.92%.The company had revenue of $901.43 million for the quarter, compared to analyst estimates of $709.85 million. As a group, equities research analysts expect that UWM will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $3.39, for a total value of $3,401,298.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 4,945,084 shares of company stock valued at $17,576,339. 80.30% of the stock is currently owned by insiders.

Institutional Trading of UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. Dimensional Fund Advisors LP boosted its position in shares of UWM by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock worth $243,000 after buying an additional 2,329 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of UWM by 4.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock valued at $225,000 after buying an additional 2,407 shares during the period. Allworth Financial LP lifted its stake in 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 acquiring an additional 2,602 shares in the last quarter. Choreo LLC lifted its stake in UWM by 16.1% during the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock worth $84,000 after acquiring an additional 2,637 shares in the last quarter. Finally, Fortem Financial Group LLC boosted its holdings in UWM by 29.5% during the 4th quarter. Fortem Financial Group LLC now owns 16,685 shares of the company’s stock valued at $73,000 after acquiring an additional 3,800 shares during the period. Hedge funds and other institutional investors 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.