Argus Lowers UWM (NYSE:UWMC) to Hold

UWM (NYSE:UWMCGet Rating) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a report released on Thursday, The Fly reports.

A number of other research analysts have also recently issued reports on the company. BTIG Research assumed coverage on UWM in a research report on Wednesday, April 20th. They issued a “neutral” rating on the stock. Zacks Investment Research cut UWM from a “buy” rating to a “hold” rating in a report on Friday, March 4th. The Goldman Sachs Group reduced their target price on UWM from $5.25 to $4.60 and set a “neutral” rating on the stock in a report on Monday, April 4th. UBS Group lowered UWM from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Wednesday, February 23rd. Finally, Wedbush lowered UWM from an “outperform” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.67.

NYSE:UWMC opened at $4.07 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $3.97 and a 200 day simple moving average of $4.97. UWM has a 1-year low of $3.38 and a 1-year high of $10.98. The stock has a market capitalization of $376.61 million, a PE ratio of 7.27 and a beta of 1.05.

UWM (NYSE:UWMCGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. UWM had a return on equity of 13.31% and a net margin of 2.78%. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, equities analysts predict that UWM will post 0.2 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of UWMC. Bank of America Corp DE grew its holdings in shares of UWM by 256.1% in the second quarter. Bank of America Corp DE now owns 27,725 shares of the company’s stock worth $234,000 after acquiring an additional 19,939 shares during the period. BlackRock Inc. lifted its position in shares of UWM by 59.0% in the third quarter. BlackRock Inc. now owns 3,167,267 shares of the company’s stock worth $22,013,000 after buying an additional 1,175,617 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of UWM by 28.5% in the third quarter. Teacher Retirement System of Texas now owns 14,959 shares of the company’s stock worth $104,000 after buying an additional 3,320 shares in the last quarter. Alliancebernstein L.P. raised its position in UWM by 24.8% during the third quarter. Alliancebernstein L.P. now owns 13,546 shares of the company’s stock valued at $94,000 after purchasing an additional 2,696 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in UWM by 52.2% during the third quarter. Goldman Sachs Group Inc. now owns 253,639 shares of the company’s stock valued at $1,763,000 after purchasing an additional 86,978 shares during the period. Hedge funds and other institutional investors own 33.06% of the company’s stock.

About UWM (Get Rating)

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.

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