UWM (NYSE: UWMC) was downgraded by Barclays research analysts from an “overweight” rating to an “equal weight” rating in a research report released Monday, The Fly reports.
Several other stock analysts also recently commented on the stock. Zacks Investment Research downgraded UWM shares from a “buy” rating to a “conservation” rating in a research note on Friday. Piper Sandler began covering UWM shares in a research report on Wednesday, December 15. They issued a “neutral” rating and a price target of $ 6.50 for the company. The UBS group began covering UWM shares in a research report on Friday, October 15. They issued a “buy” note and a price target of $ 8.50 for the company. Finally, Wedbush downgraded UWM shares from a “neutral” to an “outperforming” rating and lowered its price target for the company from $ 8.75 to $ 8.00 in a research report on Thursday, December 16. Eight equity research analysts rated the stock with a conservation rating and four issued a buy rating for the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $ 8.65.
UWMC shares opened at $ 6.02 on Monday. The stock has a fifty-day moving average price of $ 6.62. The company has a quick ratio of 1.36, a current ratio of 1.36, and a debt ratio of 0.52. UWM has a one-year low at $ 5.41 and a one-year high at $ 13.59.
UWM (NYSE: UWMC) last released its results on Tuesday, November 9. The company reported EPS of $ 0.16 for the quarter, beating the Zacks consensus estimate of $ 0.10 by $ 0.06. The company posted revenue of $ 690.31 million for the quarter, compared to analysts’ estimates of $ 576.45 million. Analysts predict UWM will post 0.72 EPS for the current fiscal year.
Hedge funds recently changed their holdings in the company. Captrust Financial Advisors acquired a new position in UWM during the 3rd quarter for $ 32,000. Legal & General Group Plc acquired a new position in UWM during the 2nd quarter valued at $ 69,000. Private Advisor Group LLC acquired a new position in UWM during the 3rd quarter valued at $ 73,000. Alliancebernstein LP acquired a new position in UWM during the 2nd quarter valued at $ 92,000. Finally, DDD Partners LLC acquired a new position in UWM during the 3rd quarter for an amount of $ 80,000. 26.67% of the shares are currently held by institutional investors and hedge funds.
UWM Holdings Corporation is engaged in the residential mortgage lending industry in the United States. The company provides mortgages through wholesale channels. It is mainly the originator of compliant and government loans. The company was founded in 1986 and is headquartered in Pontiac, Michigan.
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