UWM (NYSE:UWMC) PT reduced to $2.50

UWM (NYSE: UWMC- Get a rating) saw its target price lowered by Piper Sandler stock analysts from $3.00 to $2.50 in a report on Friday, Fly reports. Piper Sandler’s price target indicates a potential decline of 12.89% from the stock’s previous close.

Several other stock analysts have also published reports on UWMC. Argus downgraded UWM from a “buy” rating to a “hold” rating in a Thursday, June 2 report. Credit Suisse Group downgraded UWM from a “neutral” rating to an “underperforming” rating and reduced its target price for the company from $3.75 to $3.50 in a Tuesday, August 9, report. Barclays cut its target price on UWM from $5.00 to $4.00 and set an “equal weight” rating for the company in a Monday, July 11 report. Finally, the Goldman Sachs group reduced its target price on UWM to $3.50 in a Monday, August 15 report. Two investment analysts gave the stock a sell rating, six gave the company a hold rating and one gave the company a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.07.

UWM stock down 5.9%

UWMC stock opened at $2.87 on Friday. The stock’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $3.83. UWM has a fifty-two week low of $2.84 and a fifty-two week high of $7.51. The company has a debt ratio of 0.63, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $265.68 million, a P/E ratio of 4.95 and a beta of 0.96.

UWM (NYSE: UWMC- Get a rating) last released its quarterly earnings data on Tuesday, August 9. The company reported EPS of $0.10 for the quarter, beating the consensus estimate of $0.05 by $0.05. The company posted revenue of $564.23 million in the quarter, versus a consensus estimate of $465.98 million. UWM had a return on equity of 17.74% and a net margin of 2.70%. On average, research analysts expect UWM to post earnings per share of 0.34 for the current fiscal year.

Institutional investors weigh in on UWM

A number of institutional investors and hedge funds have recently changed their positions in UWMC. Diameter Capital Partners LP purchased a new equity stake in UWM in the first quarter at a value of $36,053,000. State Street Corp raised its position in UWM shares by 46.6% in the first quarter. State Street Corp now owns 1,755,053 shares of the company worth $8,123,000 after purchasing an additional 558,245 shares last quarter. Renaissance Technologies LLC increased its position in UWM shares by 45.6% in the second quarter. Renaissance Technologies LLC now owns 1,509,100 shares of the company worth $5,342,000 after purchasing an additional 472,600 shares last quarter. Vanguard Group Inc. increased its position in UWM shares by 5.1% in the first quarter. Vanguard Group Inc. now owns 8,332,640 shares of the company worth $37,747,000 after purchasing an additional 401,658 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in UWM stock in the second quarter worth $1,410,000. Hedge funds and other institutional investors hold 38.63% of the company’s shares.

About UWM

(Get a rating)

UWM Holdings Corporation is engaged in residential mortgage lending business in the United States. The company issues mortgages through the wholesale channel. It is primarily the originator of conforming loans and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.

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