UWM (NYSE:UWMC) Given Buy Rating at BTIG Research

UWM (NYSE:UWMC)‘s stock had its “buy” rating reissued by BTIG Research in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $4.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 96.08% from the company’s current price.

A number of other research firms also recently weighed in on UWMC. Barclays cut their price target on shares of UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Compass Point began coverage on shares of UWM in a report on Tuesday, March 10th. They set a “buy” rating and a $8.50 price objective for the company. Stephens started coverage on UWM in a research note on Friday, April 24th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $5.50 target price on shares of UWM in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.19.

UWM Stock Performance

Shares of NYSE UWMC opened at $2.04 on Wednesday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. UWM has a one year low of $2.00 and a one year high of $7.14. The business’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $4.09. The company has a market capitalization of $3.27 billion, a P/E ratio of 7.56 and a beta of 1.72.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. Analysts anticipate that UWM will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $3.57, for a total transaction of $3,581,898.81. Following the sale, the chief executive officer directly owned 2,995,754 shares of the company’s stock, valued at approximately $10,694,841.78. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 19,939,764 shares of company stock worth $73,297,350 in the last three months. 80.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in UWM during the 1st quarter valued at about $92,000. Focus Partners Wealth acquired a new stake in shares of UWM during the first quarter worth approximately $55,000. Cetera Investment Advisers raised its stake in shares of UWM by 20.5% in the second quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock valued at $468,000 after acquiring an additional 19,239 shares during the last quarter. Legal & General Group Plc raised its stake in shares of UWM by 65.9% in the second quarter. Legal & General Group Plc now owns 180,164 shares of the company’s stock valued at $746,000 after acquiring an additional 71,555 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of UWM by 18.5% in the 2nd quarter. Rhumbline Advisers now owns 115,501 shares of the company’s stock worth $478,000 after acquiring an additional 18,034 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

UWM Company Profile

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.