UWM Holdings Corporation (NYSE:UWMC) Stock Has Average Price Target of $3.76

Shares of UWM Holdings Corporation (NYSE:UWMC) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $2.76.

A number of equities research analysts recently weighed in on UWMC shares. Citigroup restated a “market outperform” rating on shares of UWM in a report on Monday. UBS Group reiterated a “market outperform” rating and set a $2.00 price target on shares of UWM in a research note on Monday. Citizens Jmp raised UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price objective for the company in a report on Wednesday, July 29th. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 20th. Finally, Stephens lowered their price objective on UWM from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th.

Institutional Investors Weigh In On UWM

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 3,905,286 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in UWM by 0.5% during the first quarter. Integrated Investment Consultants LLC now owns 5,371,664 shares of the company’s stock worth $19,445,000 after purchasing an additional 26,679 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in UWM in the 2nd quarter worth about $4,593,000. Squarepoint Ops LLC grew its position in UWM by 179.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,774,823 shares of the company’s stock worth $4,064,000 after purchasing an additional 1,140,136 shares in the last quarter. Finally, Signature Equity Partners LLC grew its position in UWM by 20.5% in the 1st quarter. Signature Equity Partners LLC now owns 925,864 shares of the company’s stock worth $3,352,000 after purchasing an additional 157,262 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

UWM Stock Down 1.0%

Shares of NYSE UWMC opened at $1.49 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 6.05. The firm has a market cap of $2.38 billion, a PE ratio of -18.56 and a beta of 1.82. The company’s fifty day simple moving average is $1.29 and its 200 day simple moving average is $2.83. UWM has a 12-month low of $0.93 and a 12-month high of $6.15.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). The company had revenue of $888.00 million during the quarter, compared to the consensus estimate of $727.46 million. UWM had a negative net margin of 1.04% and a negative return on equity of 6.20%. As a group, sell-side analysts forecast that UWM will post -0.06 earnings per share for the current fiscal year.

About UWM

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

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