UWM (NYSE:UWMC) Coverage Initiated at BTIG Research

Equities researchers at BTIG Research assumed coverage on shares of UWM (NYSE:UWMCGet Rating) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group dropped their target price on UWM from $5.25 to $4.60 and set a “neutral” rating for the company in a report on Monday, April 4th. UBS Group cut UWM from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Wednesday, February 23rd. Zacks Investment Research cut UWM from a “buy” rating to a “hold” rating in a report on Friday, March 4th. Finally, Barclays dropped their price target on UWM from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, March 3rd. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.12.

Shares of UWMC stock traded down $0.06 during mid-day trading on Wednesday, reaching $3.85. The stock had a trading volume of 37,684 shares, compared to its average volume of 2,695,700. UWM has a one year low of $3.82 and a one year high of $10.98. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.64. The firm’s 50 day simple moving average is $4.38 and its 200 day simple moving average is $5.62. The firm has a market cap of $356.24 million, a PE ratio of 5.75 and a beta of 0.96.

UWM (NYSE:UWMCGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). UWM had a return on equity of 24.62% and a net margin of 3.31%. The company had revenue of $605.46 million during the quarter, compared to analyst estimates of $645.23 million. Sell-side analysts forecast that UWM will post 0.44 earnings per share for the current fiscal year.

In other UWM news, CFO Tim Forrester sold 6,342 shares of the stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $4.77, for a total value of $30,251.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura Lawson sold 6,035 shares of the stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $4.77, for a total value of $28,786.95. The disclosure for this sale can be found here. Insiders sold a total of 19,867 shares of company stock worth $94,708 over the last quarter.

Several large investors have recently bought and sold shares of UWMC. Bank of America Corp DE boosted its position in shares of UWM by 256.1% in the 2nd quarter. Bank of America Corp DE now owns 27,725 shares of the company’s stock worth $234,000 after purchasing an additional 19,939 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of UWM in the 2nd quarter worth $240,000. Commonwealth Equity Services LLC boosted its position in shares of UWM by 12.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 27,565 shares of the company’s stock worth $191,000 after purchasing an additional 3,022 shares during the last quarter. Amalgamated Bank bought a new position in UWM during the third quarter worth about $106,000. Finally, SG Americas Securities LLC bought a new position in UWM during the third quarter worth about $96,000. Institutional investors and hedge funds own 27.90% of the company’s stock.

About UWM (Get Rating)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company originates 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.

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