UWM (NYSE:UWMC) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of UWM (NYSE:UWMC) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday, Marketbeat.com reports. Citizens Jmp currently has $3.00 price objective on the stock.

Several other analysts have also recently issued reports on UWMC. Barclays lowered their target price on shares of UWM from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $5.50 price objective on shares of UWM in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $4.50 to $3.75 in a research note on Thursday, June 25th. Finally, Morgan Stanley lowered their price target on UWM from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.65.

UWM Stock Down 2.4%

UWMC stock opened at $1.81 on Wednesday. The stock has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $3.52. UWM has a twelve month low of $1.72 and a twelve month high of $7.14. The firm has a market capitalization of $2.91 billion, a PE ratio of 6.72 and a beta of 1.76. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $901.43 million for 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 19.01%. On average, equities analysts predict that UWM will post 0.34 EPS for the current fiscal year.

Insider Activity at UWM

In other news, CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $3.39, for a total transaction of $3,401,298.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,009,999 shares of company stock valued at $10,655,396. Company insiders own 80.30% of the company’s stock.

Hedge Funds Weigh In On UWM

A number of institutional investors have recently added to or reduced their stakes in UWMC. Brandes Investment Partners LP bought a new position in UWM during the 4th quarter valued at about $45,867,000. Azora Capital LP grew its stake in shares of UWM by 230.8% in the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after acquiring an additional 7,881,586 shares during the period. Renaissance Technologies LLC purchased a new position in shares of UWM during the fourth quarter valued at approximately $21,580,000. First Trust Advisors LP purchased a new position in shares of UWM during the fourth quarter valued at approximately $19,303,000. Finally, Bank of America Corp DE raised its holdings in shares of UWM by 127.4% during the first quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after purchasing an additional 3,905,286 shares during the last quarter. 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.