Morgan Stanley Has Lowered Expectations for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its target price decreased by equities researchers at Morgan Stanley from $7.50 to $6.50 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 10.54% from the stock’s previous close.

A number of other research analysts also recently issued reports on UWMC. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Tuesday, October 8th. The Goldman Sachs Group decreased their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their target price on shares of UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Finally, UBS Group raised their price target on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.28.

UWM Price Performance

Shares of NYSE UWMC opened at $5.88 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $9.40 billion, a PE ratio of -25.57 and a beta of 1.65. The stock’s 50 day moving average price is $6.40 and its 200-day moving average price is $7.51. UWM has a twelve month low of $5.44 and a twelve month high of $9.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of UWMC. International Assets Investment Management LLC purchased a new stake in shares of UWM during the second quarter worth $52,000. Xponance Inc. bought a new stake in shares of UWM during the 2nd quarter valued at $76,000. Intech Investment Management LLC purchased a new stake in UWM during the 2nd quarter worth about $85,000. Orion Portfolio Solutions LLC bought a new position in UWM in the 3rd quarter worth about $85,000. Finally, McAdam LLC grew its holdings in UWM by 16.0% during the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock valued at $88,000 after buying an additional 1,758 shares in the last quarter. 53.59% of the stock is owned by 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.