The Goldman Sachs Group Lowers UWM (NYSE:UWMC) Price Target to $7.50

UWM (NYSE:UWMC) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $8.50 to $7.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 28.53% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. 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 report on Wednesday, August 7th. Morgan Stanley started coverage on UWM in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 target price for the company. UBS Group boosted their price target on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. BTIG Research raised their price objective on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, Wedbush boosted their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, UWM has an average rating of “Hold” and a consensus target price of $7.53.

UWM Stock Up 1.7 %

Shares of NYSE UWMC opened at $5.84 on Thursday. The company’s 50 day moving average price is $7.45 and its 200-day moving average price is $7.67. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. UWM has a 52-week low of $5.42 and a 52-week high of $9.74. The company has a market capitalization of $557.90 million, a P/E ratio of -25.37 and a beta of 1.67.

Insider Activity

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

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC boosted its holdings 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 purchased a new position in UWM during the first quarter worth about $55,000. Quadrature Capital Ltd grew its position in UWM by 124.3% in the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock worth $397,000 after purchasing an additional 30,361 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 buying an additional 3,207 shares during the last quarter. Finally, CWM LLC lifted its position in shares of UWM by 96.4% during the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after buying an additional 3,177 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.