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

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on UWMC. Wedbush reaffirmed a “neutral” rating and issued a $6.50 price target on shares of UWM in a report on Monday, March 3rd. Morgan Stanley dropped their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and raised their price target for the stock 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 given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.25.

UWM Trading Down 11.3 %

The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $7.84 billion, a P/E ratio of -21.33 and a beta of 1.64. The business has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $6.37.

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

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.15%. UWM’s payout ratio is presently 500.00%.

Institutional Investors Weigh In On UWM

Several large investors have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC purchased a new position in shares of UWM during the third quarter worth about $85,000. Sanctuary Advisors LLC purchased a new position in shares of UWM in the 4th quarter valued at approximately $77,000. Townsquare Capital LLC bought a new stake in UWM during the fourth quarter worth about $72,000. Quantinno Capital Management LP purchased a new stake in shares of UWM in the third quarter worth $106,000. Finally, Sei Investments Co. bought a new stake in shares of UWM during the fourth quarter valued at approximately $82,000. Hedge funds and other 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.