UWM (NYSE:UWMC) Sets New 12-Month Low – Here’s Why

UWM Holdings Co. (NYSE:UWMC)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $5.30 and last traded at $5.34, with a volume of 2453961 shares trading hands. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on UWMC. Keefe, Bruyette & Woods upgraded UWM from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $6.50 to $7.50 in a report on Monday, March 3rd. Wedbush reissued a “neutral” rating and issued a $6.50 price target on shares of UWM in a research note on Monday, March 3rd. Finally, Morgan Stanley decreased their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.25.

UWM Trading Down 3.9 %

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 firm has a market cap of $8.89 billion, a PE ratio of -24.20 and a beta of 1.64. The company’s 50 day moving average price is $6.12 and its 200 day moving average price is $6.46.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to the consensus estimate of $645.75 million. As a group, analysts forecast that UWM Holdings Co. will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 7.19%. UWM’s payout ratio is 500.00%.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently bought and sold shares of UWMC. Townsquare Capital LLC purchased a new stake in shares of UWM during the fourth quarter worth approximately $72,000. Sanctuary Advisors LLC acquired a new position in UWM during the 4th quarter worth approximately $77,000. HB Wealth Management LLC increased its position in shares of UWM by 23.0% in the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after purchasing an additional 2,631 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of UWM in the 4th quarter valued at $82,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of UWM during the 3rd quarter worth $85,000. Institutional investors and hedge funds 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.