Jefferies Financial Group Upgrades UWM (NYSE:UWMC) to Buy

UWM (NYSE:UWMC – Get Rating) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports.

A number of other equities research analysts also recently weighed in on the company. Barclays lifted their target price on UWM from $3.50 to $4.00 in a report on Thursday, May 11th. JMP Securities lifted their target price on UWM from $5.50 to $6.50 in a report on Friday, April 28th. Morgan Stanley boosted their price target on UWM from $3.50 to $5.00 in a research note on Thursday, May 11th. SpectralCast reaffirmed a “maintains” rating on shares of UWM in a research note on Friday, April 28th. Finally, The Goldman Sachs Group boosted their price target on UWM from $3.30 to $3.75 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, UWM has a consensus rating of “Hold” and an average target price of $4.22.

UWM Price Performance

Shares of UWMC opened at $4.88 on Friday. The stock has a market capitalization of $454.33 million, a P/E ratio of 81.33 and a beta of 1.46. UWM has a twelve month low of $2.84 and a twelve month high of $6.35. The company has a 50 day moving average of $5.20 and a 200-day moving average of $4.55. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.88.

UWM (NYSE:UWMC – Get Rating) last released its earnings results on Wednesday, May 10th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.11). UWM had a net margin of 0.46% and a return on equity of 14.11%. The firm had revenue of $161.27 million during the quarter, compared to the consensus estimate of $431.17 million. As a group, equities research analysts forecast that UWM will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in UWM by 5.1% in the first quarter. Vanguard Group Inc. now owns 8,332,640 shares of the company’s stock valued at $37,747,000 after acquiring an additional 401,658 shares during the last quarter. State Street Corp grew its position in UWM by 46.6% in the first quarter. State Street Corp now owns 1,755,053 shares of the company’s stock valued at $8,123,000 after acquiring an additional 558,245 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of UWM by 6,080.7% during the first quarter. Victory Capital Management Inc. now owns 1,726,341 shares of the company’s stock worth $8,476,000 after purchasing an additional 1,698,410 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of UWM by 0.9% during the third quarter. Renaissance Technologies LLC now owns 1,522,900 shares of the company’s stock worth $4,462,000 after purchasing an additional 13,800 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of UWM by 2.4% during the first quarter. Geode Capital Management LLC now owns 1,277,051 shares of the company’s stock worth $6,270,000 after purchasing an additional 29,401 shares during the last quarter. Institutional investors own 37.73% of the company’s stock.

UWM Company Profile

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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.