UWM (NYSE:UWMC) Reaches New 52-Week Low – Here’s What Happened

UWM Holdings Co. (NYSE:UWMC)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $5.38 and last traded at $5.42, with a volume of 621396 shares. The stock had previously closed at $5.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Morgan Stanley decreased their target price on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price target on shares of UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, UWM has an average rating of “Hold” and an average price target of $7.22.

UWM Stock Down 4.6 %

The stock has a market cap of $8.66 billion, a P/E ratio of -23.57 and a beta of 1.66. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The business has a 50-day simple moving average of $6.07 and a 200-day simple moving average of $7.35.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 7.38%. UWM’s payout ratio is presently -173.91%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in UWM by 24.5% during the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after buying an additional 2,010,985 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of UWM during the third quarter worth approximately $21,797,000. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 199,900 shares during the period. State Street Corp boosted its stake in UWM by 5.0% in the third quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after acquiring an additional 76,221 shares during the last quarter. Finally, Geode Capital Management LLC grew 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 worth $13,183,000 after acquiring an additional 41,206 shares during the period. 53.59% of the stock is owned by institutional investors.

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.