UWM (NYSE:UWMC) Rating Lowered to “Strong Sell” at Wall Street Zen

UWM (NYSE:UWMC) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on the stock. Barclays lowered their price objective on shares of UWM from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Friday, August 7th. BTIG Research reaffirmed a “neutral” rating on shares of UWM in a report on Friday, October 23rd. Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and set a $1.50 target price on the stock. in a research report on Wednesday, October 7th. Compass Point cut shares of UWM from a “buy” rating to a “neutral” rating and set a $1.50 target price on the stock. in a research report on Tuesday, October 27th. Finally, Citigroup reissued a “market outperform” rating on shares of UWM in a research note on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.45.

UWM Stock Performance

Shares of NYSE UWMC opened at $1.51 on Friday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 75.75, a P/E/G ratio of 5.43 and a beta of 1.82. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 6.05. UWM has a 1-year low of $0.93 and a 1-year high of $6.15. The stock’s 50-day moving average is $1.31 and its 200 day moving average is $2.71.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. UWM had a return on equity of 4.24% and a net margin of 0.55%. The company had revenue of $811.09 million during the quarter, compared to the consensus estimate of $690.29 million. On average, sell-side analysts anticipate that UWM will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On UWM

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings 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 worth $25,231,000 after acquiring an additional 3,905,286 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of UWM during the second quarter valued at about $4,593,000. Squarepoint Ops LLC raised its stake in shares of UWM by 179.6% during the second quarter. Squarepoint Ops LLC now owns 1,774,823 shares of the company’s stock valued at $4,064,000 after acquiring an additional 1,140,136 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of UWM during the second quarter worth about $1,473,000. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of UWM by 108.3% during the third quarter. 180 Wealth Advisors LLC now owns 1,005,130 shares of the company’s stock worth $1,186,000 after purchasing an additional 522,609 shares during the period. 53.59% of the stock is owned by hedge funds and other institutional investors.

UWM Company Profile

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.