UWM (NYSE:UWMC) Lowered to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley cut shares of UWM (NYSE:UWMC) from an overweight rating to an equal weight rating in a research report sent to investors on Monday, Marketbeat reports. They currently have $6.50 price target on the stock, up from their previous price target of $4.50.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods downgraded shares of UWM from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of UWM in a report on Monday, September 22nd. Barclays upgraded shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group lowered their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.18.

UWM Stock Performance

Shares of UWMC opened at $6.23 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $9.96 billion, a P/E ratio of -124.50 and a beta of 1.75. The company has a 50-day moving average of $5.52 and a two-hundred day moving average of $4.88. UWM has a 12-month low of $3.80 and a 12-month high of $8.64.

UWM (NYSE:UWMC) last announced its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The company had revenue of $758.70 million during the quarter, compared to analysts’ expectations of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. As a group, research analysts predict that UWM will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Thursday, September 18th. UWM’s payout ratio is presently -800.00%.

Insider Transactions at UWM

In related news, CEO Ishbia Mat sold 596,356 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $6.11, for a total value of $3,643,735.16. Following the completion of the sale, the chief executive officer directly owned 1,337,868 shares in the company, valued at approximately $8,174,373.48. The trade was a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 16,175,592 shares of company stock valued at $86,495,194 in the last ninety days. 94.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its stake in UWM by 24.0% during the second quarter. Osaic Holdings Inc. now owns 43,793 shares of the company’s stock worth $181,000 after buying an additional 8,473 shares during the period. EVR Research LP purchased a new stake in UWM during the 2nd quarter worth $4,189,000. Brevan Howard Capital Management LP boosted its position in UWM by 227.8% during the 2nd quarter. Brevan Howard Capital Management LP now owns 601,168 shares of the company’s stock worth $2,489,000 after purchasing an additional 417,789 shares during the period. Balyasny Asset Management L.P. increased its holdings in UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in UWM by 93.8% in the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after purchasing an additional 1,819,129 shares in the last quarter. 53.59% of the stock is currently 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.