UWM (NYSE:UWMC) Sets New 12-Month Low - What's Next?

UWM Holdings Co. (NYSE:UWMC - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $4.00 and last traded at $4.24, with a volume of 10778920 shares trading hands. The stock had previously closed at $4.25.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and cut their price target for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Wedbush reissued a "neutral" rating and set a $6.50 price target on shares of UWM in a research report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods cut their price target on shares of UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Five equities 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, the company has a consensus rating of "Hold" and a consensus target price of $6.86.

UWM Stock Down 0.2%

The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of -18.43 and a beta of 1.75. The firm's 50 day moving average price is $5.06 and its two-hundred day moving average price is $5.77. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06.

UWM (NYSE:UWMC - Get Free Report) 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 the consensus estimate of $558.80 million. Sell-side analysts anticipate that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UWMC. First Trust Advisors LP increased its stake in shares of UWM by 886.9% during the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after purchasing an additional 3,349,779 shares during the last quarter. Vanguard Group Inc. grew its stake in UWM by 37.6% in the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after buying an additional 3,212,081 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in UWM in the 4th quarter valued at about $6,602,000. EMG Holdings L.P. acquired a new position in UWM in the 4th quarter valued at about $2,597,000. Finally, Trexquant Investment LP acquired a new position in UWM in the 4th quarter valued at about $2,450,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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