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

UWM (NYSE:UWMC) had its price target decreased by investment analysts at The Goldman Sachs Group from $6.00 to $5.25 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 22.95% from the stock’s previous close.

A number of other equities research analysts have also recently commented on UWMC. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their price objective on UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, UWM presently has an average rating of “Hold” and a consensus target price of $6.75.

UWM Price Performance

Shares of UWMC opened at $4.27 on Wednesday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -32.85 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. UWM has a 1 year low of $3.80 and a 1 year high of $9.74. The business has a 50-day moving average of $4.24 and a 200-day moving average of $5.24.

UWM (NYSE:UWMC) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. As a group, equities research analysts anticipate that UWM will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Monday, June 30th. The shares were sold at an average price of $4.13, for a total value of $1,652,148.68. Following the sale, the chief executive officer owned 899,676 shares in the company, valued at $3,715,661.88. The trade was a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 2,400,216 shares of company stock worth $9,800,882. Corporate insiders own 87.50% of the company’s stock.

Hedge Funds Weigh In On UWM

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after purchasing an additional 2,958 shares during the last quarter. Signaturefd LLC increased its position in shares of UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after purchasing an additional 4,693 shares during the last quarter. Quarry LP bought a new position in UWM in the first quarter worth approximately $53,000. Focus Partners Wealth bought a new position in UWM in the 1st quarter worth $55,000. Finally, Independent Advisor Alliance purchased a new position in shares of UWM during the 1st quarter valued at about $58,000. 53.59% of the stock is owned by 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.