Barclays Begins Coverage on UWM (NYSE:UWMC)

Investment analysts at Barclays initiated coverage on shares of UWM (NYSE:UWMC) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage set an “underweight” rating and a $4.00 price target on the stock. Barclays‘s price objective would suggest a potential downside of 30.56% from the stock’s previous close.

UWMC has been the subject of a number of other research reports. UBS Group increased their price target on shares of UWM from $4.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, August 30th. Wedbush lifted their price target on shares of UWM from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Morgan Stanley raised their price objective on UWM from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Keefe, Bruyette & Woods reduced their price objective on UWM from $6.75 to $5.50 in a report on Monday, October 2nd. Finally, BTIG Research raised UWM from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, UWM presently has a consensus rating of “Hold” and an average price target of $5.70.

UWM Stock Up 6.1 %

UWM stock opened at $5.76 on Wednesday. The stock’s 50 day moving average price is $5.10 and its 200 day moving average price is $5.49. UWM has a 1-year low of $3.23 and a 1-year high of $6.98. The company has a market cap of $539.42 million, a PE ratio of 82.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.90 and a quick ratio of 1.90.

Insiders Place Their Bets

In other news, Director Robert Verdun acquired 40,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average price of $5.20 per share, with a total value of $208,000.00. Following the completion of the transaction, the director now directly owns 204,725 shares in the company, valued at approximately $1,064,570. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 94.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UWM

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in UWM by 807.1% during the first quarter. Parallel Advisors LLC now owns 6,613 shares of the company’s stock worth $32,000 after buying an additional 5,884 shares during the period. International Assets Investment Management LLC purchased a new position in shares of UWM during the 3rd quarter worth about $32,000. Point72 Hong Kong Ltd acquired a new stake in shares of UWM in the second quarter worth approximately $26,000. Captrust Financial Advisors grew its holdings in UWM by 220.9% in the second quarter. Captrust Financial Advisors now owns 9,589 shares of the company’s stock valued at $34,000 after purchasing an additional 6,601 shares during the period. Finally, First Republic Investment Management Inc. acquired a new position in UWM during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 44.44% of the company’s stock.

About UWM

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.