Goldman Sachs Group raises its price target on UWM (NYSE:UWMC) to $8.50

UWM (NYSE:UWMC – Get a Free Report) the price target was upped by analysts at The Goldman Sachs Group from $7.50 to $8.50 in a report on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Goldman Sachs Group’s price target indicates a potential upside of 1.07% from the company’s previous close.

UWMC has been the subject of several other research reports. Barclays lifted their price objective on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Wedbush upped their price objective on shares of UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods upped their target price on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, BTIG Research boosted their price objective on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. UWM currently has a consensus rating of “Hold” and an average price target of $7.13, according to MarketBeat.

Read our latest report on UWM

UWM Price Performance

Shares of NYSE UWMC traded down $0.06 during mid-day trading on Thursday, reaching $8.41. 1,163,628 shares of the company traded hands, compared to its average volume of 1,621,205. The stock has a fifty day simple moving average of $7.56 and a 200 day simple moving average of $7.05. UWM has a fifty-two week low of $4.49 and a fifty-two week high of $8.92. The firm has a market cap of $803.81 million, a PE ratio of 280.33 and a beta of 1.63. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58, and a quick ratio of 1.58.

UWM (NYSE:UWMC – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same period last year, the business earned $0.11 EPS. equities research analysts anticipate that UWM will post 0.28 EPS for the current fiscal year.

Institutional investors weigh in on UWM

Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in shares of UWM by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,126,166 shares of the company’s stock worth $15,202,000 after acquiring an additional 81,799 shares during the period. Renaissance Technologies LLC raised its stake in shares of UWM by 13.2% in the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. Azora Capital LP bought a new stake in shares of UWM during the fourth quarter valued at approximately $6,705,000. Bank of New York Mellon Corp raised its holdings in UWM by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 908,159 shares of the company’s stock worth $6,294,000 after acquiring an additional 37,190 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in UWM by 3.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 287,135 shares of the company’s stock valued at $2,085,000 after buying an additional 9,555 shares during the period. 53.59% of shares are currently owned by institutional investors.

About UWM

(Get a free report)

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through the wholesale channel. It comes primarily from conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.

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