Brokerages Set UWM Holdings Co. (NYSE:UWMC) Price Target at $7.39

Shares of UWM Holdings Co. (NYSE:UWMC) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.39.

Several analysts have recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Morgan Stanley dropped their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday, January 3rd.

UWM Stock Down 0.2 %

NYSE:UWMC opened at $6.28 on Wednesday. The company has a market cap of $10.03 billion, a PE ratio of -27.28 and a beta of 1.66. UWM has a twelve month low of $5.31 and a twelve month high of $9.74. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $6.01 and its two-hundred day moving average is $7.18.

UWM (NYSE:UWMC) last released its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The business had revenue of $526.43 million for the quarter, compared to the consensus estimate of $517.02 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. Analysts anticipate that UWM will post 0.2 EPS for the current year.

Hedge Funds Weigh In On UWM

Several large investors have recently made changes to their positions in UWMC. Sanctuary Advisors LLC acquired a new position in shares of UWM in the 4th quarter valued at $77,000. HB Wealth Management LLC lifted its stake in shares of UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after purchasing an additional 2,631 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of UWM in the 3rd quarter valued at $85,000. Quantinno Capital Management LP acquired a new position in UWM during the third quarter worth $106,000. Finally, Secure Asset Management LLC acquired a new position in UWM during the fourth quarter worth $119,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.