UWM (NYSE:UWMC) Stock Crosses Below 50-Day Moving Average – Should You Sell?

UWM Holdings Corporation (NYSE:UWMC)’s stock price passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $1.30 and traded as low as $1.26. UWM shares last traded at $1.2750, with a volume of 5,394,808 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on UWMC. Compass Point lowered UWM from a “buy” rating to a “neutral” rating and set a $1.50 price objective on the stock. in a research note on Tuesday, October 27th. Weiss Ratings reissued a “sell (d)” rating on shares of UWM in a research note on Wednesday, November 4th. Citizens Jmp upgraded shares of UWM from a “market perform” rating to an “outperform” rating and set a $3.00 target price on the stock in a report on Wednesday, July 29th. Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and set a $1.50 price target on the stock. in a research note on Wednesday, October 7th. Finally, UBS Group reaffirmed a “market outperform” rating and set a $2.00 price target on shares of UWM in a research note on Monday, October 26th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.45.

UWM Trading Down 6.3%

The firm’s 50 day simple moving average is $1.30 and its 200-day simple moving average is $2.62. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 4.02. The company has a market capitalization of $2.05 billion, a PE ratio of 63.75, a P/E/G ratio of 4.86 and a beta of 1.82.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. The firm had revenue of $811.09 million for the quarter, compared to analyst estimates of $690.29 million. UWM had a return on equity of 4.29% and a net margin of 0.55%. As a group, equities research analysts anticipate that UWM Holdings Corporation will post 0.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of UWM by 127.4% in the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock worth $25,231,000 after purchasing an additional 3,905,286 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in shares of UWM by 0.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 5,371,664 shares of the company’s stock valued at $19,445,000 after purchasing an additional 26,679 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of UWM during the second quarter worth about $4,593,000. Squarepoint Ops LLC lifted its position in shares of UWM by 179.6% during the second quarter. Squarepoint Ops LLC now owns 1,774,823 shares of the company’s stock worth $4,064,000 after purchasing an additional 1,140,136 shares during the last quarter. Finally, Signature Equity Partners LLC lifted its position in shares of UWM by 20.5% during the first quarter. Signature Equity Partners LLC now owns 925,864 shares of the company’s stock worth $3,352,000 after purchasing an additional 157,262 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

About UWM

UWM Holdings Corporation operates United Wholesale Mortgage, a mortgage lender that works through independent mortgage brokers rather than originating loans directly for consumers. The company provides residential mortgage products for home purchases and refinancings, along with technology and operational support to help brokers guide borrowers through the lending process. Its offerings include conventional, government-backed and jumbo home loans. UWM serves brokers and borrowers across the United States, using its wholesale model to connect mortgage professionals with loan processing, underwriting and closing services.