Morgan Stanley Lowers UWM (NYSE:UWMC) Price Target to $6.50

UWM (NYSE:UWMC) had its price target dropped by stock analysts at 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 would indicate a potential upside of 10.54% from the stock’s previous close.

Several other research analysts have also commented on UWMC. UBS Group boosted their price objective on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods decreased their price target on shares of UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.28.

UWM Price Performance

NYSE:UWMC opened at $5.88 on Thursday. UWM has a 52-week low of $5.44 and a 52-week high of $9.74. The stock has a fifty day moving average of $6.40 and a 200 day moving average of $7.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of -25.57 and a beta of 1.65.

Institutional Investors Weigh In On UWM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in UWM by 24.5% during the 3rd quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after acquiring an additional 2,010,985 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of UWM during the third quarter valued at approximately $21,797,000. Renaissance Technologies LLC grew its holdings 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 worth $11,870,000 after purchasing an additional 199,900 shares during the last quarter. State Street Corp increased its stake in shares of UWM by 5.0% in the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock worth $13,723,000 after buying an additional 76,221 shares during the period. Finally, Geode Capital Management LLC raised its holdings in UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after buying an additional 41,206 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.