UWM (NYSE:UWMC) Lowered to Underweight at Piper Sandler

UWM (NYSE:UWMCGet Rating) was downgraded by Piper Sandler to an “underweight” rating in a report issued on Thursday, Stock Target Advisor reports. They presently have a $3.00 price target on the stock, down from their prior price target of $5.00. Piper Sandler’s price target indicates a potential downside of 25.19% from the stock’s current price.

Several other research analysts have also recently issued reports on UWMC. Wedbush cut shares of UWM from an “outperform” rating to a “neutral” rating and set a $5.00 price target for the company. in a report on Tuesday. Zacks Investment Research cut UWM from a “buy” rating to a “hold” rating in a report on Friday, March 4th. UBS Group lowered UWM from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a report on Wednesday, February 23rd. BTIG Research started coverage on UWM in a report on Wednesday, April 20th. They issued a “neutral” rating for the company. Finally, Barclays decreased their target price on shares of UWM from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.53.

Shares of UWMC stock opened at $4.01 on Thursday. The company has a market capitalization of $371.05 million, a P/E ratio of 7.16 and a beta of 1.05. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $4.06 and its two-hundred day moving average is $5.19. UWM has a twelve month low of $3.38 and a twelve month high of $10.98.

UWM (NYSE:UWMCGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.14. UWM had a net margin of 2.78% and a return on equity of 13.31%. During the same period last year, the business posted $0.71 EPS. As a group, equities analysts predict that UWM will post 0.45 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in UWMC. Bank of America Corp DE lifted its holdings in shares of UWM by 256.1% in the second quarter. Bank of America Corp DE now owns 27,725 shares of the company’s stock valued at $234,000 after purchasing an additional 19,939 shares in the last quarter. SG Americas Securities LLC acquired a new stake in UWM during the 3rd quarter valued at $96,000. New York State Common Retirement Fund increased its position in UWM by 27.5% during the third quarter. New York State Common Retirement Fund now owns 51,647 shares of the company’s stock worth $359,000 after buying an additional 11,147 shares in the last quarter. Truist Financial Corp raised its holdings in shares of UWM by 22.6% in the third quarter. Truist Financial Corp now owns 46,850 shares of the company’s stock worth $326,000 after acquiring an additional 8,625 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of UWM by 59.0% in the third quarter. BlackRock Inc. now owns 3,167,267 shares of the company’s stock valued at $22,013,000 after acquiring an additional 1,175,617 shares in the last quarter. Institutional investors own 33.06% 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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