The Goldman Sachs Group Issues Pessimistic Forecast for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC) had its target price lowered by equities research analysts at The Goldman Sachs Group from $8.50 to $7.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 28.53% from the company’s current price.

A number of other brokerages have also commented on UWMC. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. UBS Group upped their target price on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Morgan Stanley began coverage on UWM in a report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target for the company. BTIG Research upped their target price on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.53.

UWM Trading Up 1.7 %

NYSE:UWMC opened at $5.84 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. UWM has a fifty-two week low of $5.42 and a fifty-two week high of $9.74. The business’s 50-day simple moving average is $7.45 and its 200-day simple moving average is $7.67. The stock has a market capitalization of $557.90 million, a PE ratio of -25.37 and a beta of 1.67.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The trade was a 87.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 94.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UWMC. Bleakley Financial Group LLC grew its position in UWM by 18.0% during the 1st quarter. Bleakley Financial Group LLC now owns 30,215 shares of the company’s stock worth $219,000 after acquiring an additional 4,612 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of UWM in the first quarter valued at approximately $55,000. Quadrature Capital Ltd raised its holdings in UWM by 124.3% in the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after buying an additional 30,361 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in UWM by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after acquiring an additional 3,207 shares during the period. Finally, CWM LLC raised its stake in shares of UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares during the last quarter. 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.