UWM (NYSE:UWMC) Given New $7.50 Price Target at The Goldman Sachs Group

UWM (NYSE:UWMC) had its price target lowered by analysts at The Goldman Sachs Group from $8.50 to $7.50 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 27.12% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their target price on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on UWM in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 price objective for the company. Wedbush lifted their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. BTIG Research lifted their price objective on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. One equities research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.53.

UWM Price Performance

NYSE:UWMC remained flat at $5.90 during trading hours on Thursday. The company had a trading volume of 576,482 shares, compared to its average volume of 1,946,302. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $564.10 million, a P/E ratio of -25.65 and a beta of 1.67. UWM has a fifty-two week low of $5.42 and a fifty-two week high of $9.74. The stock has a fifty day simple moving average of $7.57 and a two-hundred day simple moving average of $7.68.

Insider Activity

In other UWM news, CEO Ishbia Mat sold 5,000,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.11, for a total value of $45,550,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,562,547.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 94.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in 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 purchasing an additional 3,177 shares during the period. International Assets Investment Management LLC bought a new stake in UWM in the 2nd quarter valued at about $52,000. SageView Advisory Group LLC purchased a new stake in UWM during the first quarter valued at about $55,000. Xponance Inc. bought a new position in UWM during the second quarter worth about $76,000. Finally, Intech Investment Management LLC purchased a new position in shares of UWM in the second quarter worth about $85,000. 53.59% of the stock is currently 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.