UWM (NYSE:UWMC) Coverage Initiated at Compass Point

Analysts at Compass Point initiated coverage on shares of UWM (NYSE:UWMC) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $8.50 price target on the stock. Compass Point’s target price would suggest a potential upside of 118.85% from the stock’s current price.

Several other equities research analysts have also commented on UWMC. UBS Group boosted their price target on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Weiss Ratings upgraded UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. The Goldman Sachs Group set a $5.00 target price on UWM in a research report on Tuesday, January 6th. Morgan Stanley set a $6.00 target price on UWM in a research report on Tuesday, December 16th. Finally, Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.49.

UWM Stock Performance

NYSE UWMC opened at $3.88 on Tuesday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The company’s fifty day moving average is $4.93 and its two-hundred day moving average is $5.39. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 64.73 and a beta of 1.90. UWM has a 52-week low of $3.64 and a 52-week high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. Equities research analysts forecast that UWM will post 0.2 EPS for the current year.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $5.27, for a total value of $3,335,245.98. Following the transaction, the chief executive officer directly owned 3,149,753 shares in the company, valued at approximately $16,599,198.31. This represents a 16.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 19,797,526 shares of company stock valued at $97,470,411 in the last quarter. Company insiders own 94.11% of the company’s stock.

Institutional Trading of UWM

A number of hedge funds have recently made changes to their positions in UWMC. Allworth Financial LP lifted its holdings in shares of UWM by 5,681.9% during the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after acquiring an additional 4,091 shares during the period. GAMMA Investing LLC boosted its holdings in shares of UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after acquiring an additional 4,344 shares in the last quarter. Raymond James Financial Inc. acquired a new position in UWM during the second quarter worth $35,000. Farther Finance Advisors LLC raised its stake in shares of UWM by 1,410.7% during the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after purchasing an additional 8,027 shares during the period. Finally, Advisory Services Network LLC bought a new stake in UWM in the 3rd quarter worth $38,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.