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

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

UWMC has been the subject of several other reports. Compass Point lowered shares of UWM from a “buy” rating to a “neutral” rating and set a $1.50 target price for the company. in a report on Tuesday, October 27th. Stephens decreased their target price on shares of UWM from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 20th. The Goldman Sachs Group reissued a “neutral” rating and set a $1.50 price target on shares of UWM in a report on Wednesday. Finally, Morgan Stanley set a $1.50 price target on shares of UWM in a research report on Monday, October 12th. Four 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. According to MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus price target of $2.45.

UWM Stock Down 7.1%

UWM stock opened at $1.51 on Friday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 75.75, a price-to-earnings-growth ratio of 3.10 and a beta of 1.82. UWM has a 52 week low of $0.93 and a 52 week high of $6.15. The business’s 50-day moving average price is $1.31 and its 200 day moving average price is $2.71. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 6.05.

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

Institutional Trading of UWM

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd boosted its stake in shares of UWM by 43.2% in the third quarter. R Squared Ltd now owns 22,199 shares of the company’s stock valued at $26,000 after purchasing an additional 6,699 shares during the period. Cetera Investment Advisers increased its stake in UWM by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 159,891 shares of the company’s stock worth $579,000 after buying an additional 9,057 shares during the period. HB Wealth Management LLC increased its stake in UWM by 60.8% during the 1st quarter. HB Wealth Management LLC now owns 28,068 shares of the company’s stock worth $102,000 after buying an additional 10,609 shares during the period. Meeder Advisory Services Inc. purchased a new stake in UWM during the 2nd quarter worth approximately $25,000. Finally, Fifth Third Bancorp acquired a new stake in UWM during the 1st quarter worth approximately $41,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

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.