UWM (NYSE:UWMC) Price Target Lowered to $4.50 at Keefe, Bruyette & Woods

UWM (NYSE:UWMC) had its price target decreased by equities researchers at Keefe, Bruyette & Woods from $5.00 to $4.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 34.81% from the company’s previous close.

UWMC has been the subject of a number of other reports. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Morgan Stanley set a $5.00 target price on shares of UWM in a report on Thursday. Jefferies Financial Group set a $4.40 target price on shares of UWM in a report on Wednesday, February 25th. Barclays reduced their target price on shares of UWM from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Finally, Weiss Ratings downgraded shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and an average target price of $5.79.

UWM Stock Performance

Shares of UWM stock opened at $3.34 on Friday. The company has a market capitalization of $5.34 billion, a PE ratio of 12.35 and a beta of 1.78. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. The company has a 50-day simple moving average of $3.77 and a two-hundred day simple moving average of $4.73. UWM has a one year low of $3.27 and a one year high of $7.14.

UWM (NYSE:UWMC) last announced its earnings results on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 18.89%. Research analysts expect that UWM will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $3.66, for a total transaction of $3,672,198.78. Following the sale, the chief executive officer owned 1,992,421 shares in the company, valued at approximately $7,292,260.86. The trade was a 33.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,533,789 shares of company stock worth $121,210,934 in the last 90 days. 80.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UWM

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in 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 buying an additional 2,329 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in UWM by 4.9% in the fourth 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 last quarter. Allworth Financial LP boosted its position in UWM by 62.5% in the fourth quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock valued at $30,000 after buying an additional 2,602 shares during the last quarter. Choreo LLC boosted its position in UWM by 16.1% in the fourth 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, State of Wyoming boosted its position in UWM by 24.9% in the third quarter. State of Wyoming now owns 14,552 shares of the company’s stock valued at $89,000 after buying an additional 2,902 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.