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

Shares of UWM Holdings Co. (NYSE:UWMC) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.22 and last traded at $5.27, with a volume of 3378056 shares. The stock had previously closed at $5.53.

Analysts Set New Price Targets

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

UWM Stock Performance

The company has a market capitalization of $7.50 billion, a P/E ratio of -20.39 and a beta of 1.64. 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 company’s 50-day moving average is $5.95 and its two-hundred day moving average is $6.29.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $560.21 million for the quarter, compared to analysts’ expectations of $645.75 million. Equities analysts anticipate that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.53%. The ex-dividend date is Thursday, March 20th. UWM’s payout ratio is currently 500.00%.

Institutional Trading of UWM

Hedge funds have recently bought and sold shares of the company. HB Wealth Management LLC lifted its stake 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 acquiring an additional 2,631 shares during the last quarter. Sherbrooke Park Advisers LLC increased its stake in UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after purchasing an additional 2,975 shares during the period. Mariner LLC lifted its position in UWM by 5.1% in the fourth quarter. Mariner LLC now owns 64,455 shares of the company’s stock valued at $378,000 after purchasing an additional 3,126 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of UWM by 20.7% during the fourth quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock valued at $119,000 after purchasing an additional 3,488 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of UWM by 13.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company’s stock worth $174,000 after purchasing an additional 3,524 shares during the last quarter. Institutional investors 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.