Morgan Stanley Initiates Coverage on UWM (NYSE:UWMC)

Morgan Stanley assumed coverage on shares of UWM (NYSE:UWMC - Get Free Report) in a report released on Tuesday, StockNewsAPI reports. The brokerage set an "equal weight" rating and a $7.50 price target on the stock. Morgan Stanley's price target indicates a potential upside of 14.33% from the company's previous close.

UWMC has been the subject of a number of other reports. 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 upped their target price on shares of UWM from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, August 6th. The Goldman Sachs Group lifted their price target on shares of UWM from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Wedbush upped their price objective on UWM from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods lifted their target price on UWM from $7.00 to $8.00 and gave the company a "market perform" 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.66.

UWM Stock Up 2.8 %

UWMC stock traded up $0.18 on Tuesday, reaching $6.56. 2,563,275 shares of the company traded hands, compared to its average volume of 1,882,614. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a fifty day simple moving average of $8.00 and a 200-day simple moving average of $7.70. UWM has a one year low of $5.01 and a one year high of $9.74. The company has a market cap of $627.20 million, a P/E ratio of -326.00 and a beta of 1.67.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to analysts' expectations of $540.31 million. During the same period in the previous year, the company posted $0.11 earnings per share. Research analysts anticipate that UWM will post 0.26 earnings per share for the current year.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,562,547.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 94.11% of the stock is owned by corporate insiders.

Institutional Trading of UWM

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in shares of UWM during the 1st quarter worth approximately $29,000. CWM LLC boosted its position in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company's stock worth $45,000 after purchasing an additional 3,177 shares in the last quarter. International Assets Investment Management LLC acquired a new position in UWM during the 2nd quarter valued at about $52,000. SageView Advisory Group LLC acquired a new stake in UWM in the first quarter worth about $55,000. Finally, Xponance Inc. purchased a new stake in shares of UWM during the second quarter worth about $76,000. Institutional investors own 53.59% of the company's stock.

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.