UWM (NYSE:UWMC) Coverage Initiated at Morgan Stanley

Research analysts at Morgan Stanley started coverage on shares of UWM (NYSE:UWMC) in a research note issued to investors on Tuesday, StockNewsAPI reports. The brokerage set an “equal weight” rating and a $7.50 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 13.12% from the company’s previous close.

Several other analysts have also commented on UWMC. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. UBS Group increased their price target on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Keefe, Bruyette & Woods boosted their price objective on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Wedbush raised their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price objective on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, UWM currently has a consensus rating of “Hold” and an average target price of $7.66.

UWM Price Performance

Shares of NYSE UWMC opened at $6.63 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. UWM has a twelve month low of $5.01 and a twelve month high of $9.74. The company has a 50 day moving average of $7.94 and a 200 day moving average of $7.70.

UWM (NYSE:UWMC) last posted its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, equities research analysts predict that UWM will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now owns 171,520 shares in the company, valued at $1,449,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 94.11% of the stock is owned by insiders.

Hedge Funds Weigh In On UWM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UWMC. ORG Partners LLC bought a new position in UWM during the first quarter valued at $29,000. CWM LLC raised its position in UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after purchasing an additional 3,177 shares during the period. International Assets Investment Management LLC bought a new stake in shares of UWM in the 2nd quarter valued at approximately $52,000. SageView Advisory Group LLC purchased a new position in shares of UWM in the 1st quarter worth approximately $55,000. Finally, Xponance Inc. bought a new position in shares of UWM during the 2nd quarter valued at approximately $76,000. 53.59% of the stock is owned by institutional investors.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.