UWM (NYSE:UWMC) Upgraded at Zacks Research

UWM (NYSE:UWMC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other equities research analysts have also recently weighed in on UWMC. Citigroup raised UWM to an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen lowered UWM from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Stephens decreased their price objective on UWM from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Citizens Jmp upgraded UWM from a “market perform” rating to an “outperform” rating and set a $3.00 target price on the stock in a research report on Wednesday, July 29th. Finally, Barclays lowered their target price on UWM from $4.00 to $2.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, UWM presently has an average rating of “Hold” and an average price target of $3.76.

UWM Stock Performance

UWMC stock opened at $1.11 on Tuesday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -13.94 and a beta of 1.82. UWM has a 1 year low of $0.93 and a 1 year high of $6.15. The stock’s fifty day moving average is $1.30 and its two-hundred day moving average is $2.19.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). The firm had revenue of $888.00 million for the quarter, compared to analyst estimates of $727.46 million. UWM had a negative net margin of 1.04% and a negative return on equity of 6.20%. On average, research analysts predict that UWM will post -0.06 EPS for the current year.

Institutional Investors Weigh In On UWM

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in UWM by 127.4% in the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after buying an additional 3,905,286 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of UWM during the 2nd quarter worth about $4,593,000. Squarepoint Ops LLC raised its position in shares of UWM by 179.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,774,823 shares of the company’s stock worth $4,064,000 after buying an additional 1,140,136 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of UWM during the 2nd quarter worth about $1,473,000. Finally, North Reef Capital Management LP acquired a new stake in shares of UWM in the 1st quarter worth approximately $1,279,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

About UWM

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

United Wholesale Mortgage traces its history to 1986 and is headquartered in Pontiac, Michigan.