UWM (NYSE:UWMC) Shares Gap Down – Time to Sell?

UWM Holdings Co. (NYSE:UWMC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.58, but opened at $5.92. UWM shares last traded at $5.90, with a volume of 1,005,110 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley cut their price target 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 decreased their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods dropped their target price on UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.39.

UWM Price Performance

The company has a 50-day simple moving average of $6.05 and a two-hundred day simple moving average of $7.01. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of -26.32 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

Hedge Funds Weigh In On UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Townsquare Capital LLC acquired a new stake in shares of UWM during the fourth quarter valued at approximately $72,000. Sanctuary Advisors LLC acquired a new stake in shares of UWM in the 4th quarter valued at $77,000. HB Wealth Management LLC boosted its holdings in UWM by 23.0% during the fourth 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 period. Sei Investments Co. acquired a new stake in shares of UWM in the fourth quarter worth $82,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of UWM during the third quarter valued at about $85,000. 53.59% of the stock is owned by institutional investors.

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.