Morgan Stanley Has Lowered Expectations for UWM (NYSE:UWMC) Stock Price

UWM (NYSE:UWMC - Get Free Report) had its price target reduced by Morgan Stanley from $7.50 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 15.04% from the stock's previous close.

Other research analysts have also recently issued reports about the company. UBS Group raised their price objective on UWM from $4.50 to $4.75 and gave the company a "sell" rating in a research note on Thursday, September 5th. Barclays upgraded UWM from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on UWM from $9.00 to $7.00 and set a "market perform" rating for the company in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group cut their target price on shares of UWM from $8.50 to $7.50 and set a "neutral" rating on the stock in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, UWM currently has an average rating of "Hold" and an average target price of $7.28.

UWM Price Performance

Shares of UWMC stock traded down $0.09 during trading hours on Thursday, hitting $5.65. 4,453,242 shares of the company's stock were exchanged, compared to its average volume of 2,066,954. UWM has a 12-month low of $5.44 and a 12-month high of $9.74. The company has a market capitalization of $9.03 billion, a PE ratio of -24.57 and a beta of 1.65. The business's 50 day simple moving average is $6.46 and its 200-day simple moving average is $7.53. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

Hedge Funds Weigh In On UWM

Institutional investors have recently added to or reduced their stakes in the company. McAdam LLC increased its stake in shares of UWM by 16.0% in the 2nd quarter. McAdam LLC now owns 12,721 shares of the company's stock worth $88,000 after acquiring an additional 1,758 shares in the last quarter. Wedmont Private Capital increased its stake in shares of UWM by 10.8% during the third quarter. Wedmont Private Capital now owns 20,113 shares of the company's stock valued at $171,000 after purchasing an additional 1,963 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of UWM by 8.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company's stock valued at $168,000 after purchasing an additional 1,991 shares during the last quarter. Rhumbline Advisers boosted its position in shares of UWM by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 91,964 shares of the company's stock worth $637,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its stake in shares of UWM by 7.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company's stock worth $858,000 after buying an additional 7,334 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

UWM Company Profile

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.