UWM (NYSE:UWMC) Trading Down 5% – What’s Next?

UWM Holdings Co. (NYSE:UWMC)’s share price was down 5% on Monday . The stock traded as low as $4.09 and last traded at $4.12. Approximately 779,543 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 4,459,767 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on UWMC shares. Wedbush reaffirmed a “neutral” rating and set a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price target on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group dropped their price target on shares of UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and cut their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.86.

UWM Trading Up 0.5%

The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $6.78 billion, a PE ratio of -18.43 and a beta of 1.75. The stock has a 50-day simple moving average of $4.88 and a two-hundred day simple moving average of $5.69.

UWM (NYSE:UWMC) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). The firm had revenue of $613.37 million for the quarter, compared to analysts’ expectations of $558.80 million. As a group, sell-side analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.43%. UWM’s dividend payout ratio is presently -307.69%.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently modified their holdings of UWMC. Barclays PLC lifted its holdings in UWM by 485.7% in the third quarter. Barclays PLC now owns 26,022 shares of the company’s stock valued at $221,000 after acquiring an additional 21,579 shares during the period. HB Wealth Management LLC grew its stake in shares of UWM by 23.0% during the 4th quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after purchasing an additional 2,631 shares during the period. SG Americas Securities LLC increased its position in shares of UWM by 121.4% during the 4th quarter. SG Americas Securities LLC now owns 42,725 shares of the company’s stock valued at $251,000 after purchasing an additional 23,424 shares during the last quarter. Inspire Investing LLC increased its position in shares of UWM by 5.3% during the 4th quarter. Inspire Investing LLC now owns 188,889 shares of the company’s stock valued at $1,109,000 after purchasing an additional 9,591 shares during the last quarter. Finally, Secure Asset Management LLC bought a new position in shares of UWM in the 4th quarter worth approximately $119,000. 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.