UWM (NYSE:UWMC) Price Target Increased to $8.50 by Analysts at Wedbush

UWM (NYSE:UWMC) had its price objective hoisted by research analysts at Wedbush from $7.00 to $8.50 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price objective would indicate a potential downside of 1.16% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Barclays upped their price target on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their target price on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, BTIG Research boosted their price target on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, UWM presently has an average rating of “Hold” and an average target price of $6.75.

UWM Stock Up 1.2 %

NYSE:UWMC traded up $0.10 during midday trading on Wednesday, reaching $8.60. The company had a trading volume of 672,228 shares, compared to its average volume of 1,605,370. The stock’s fifty day simple moving average is $7.49 and its 200-day simple moving average is $7.02. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. UWM has a 12-month low of $4.49 and a 12-month high of $8.92. The firm has a market capitalization of $821.97 million, a price-to-earnings ratio of 290.00 and a beta of 1.63.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter last year, the business posted $0.11 earnings per share. On average, sell-side analysts anticipate that UWM will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of UWM in the first quarter valued at approximately $29,000. Atlas Capital Advisors LLC boosted its position in shares of UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after purchasing an additional 3,309 shares in the last quarter. CWM LLC grew its stake in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares during the period. International Assets Investment Management LLC purchased a new position in shares of UWM in the 2nd quarter valued at about $52,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of UWM in the first quarter valued at about $55,000. 53.59% of the stock is owned by hedge funds and other 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.