UWM (NYSE:UWMC) Reaches New 52-Week Low - Here's What Happened

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

Analysts Set New Price Targets

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

UWM Stock Performance

The stock has a fifty day simple moving average of $4.94 and a 200-day simple moving average of $5.72. 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 stock has a market cap of $6.67 billion, a P/E ratio of -18.15 and a beta of 1.75.

UWM (NYSE:UWMC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analysts' expectations of $558.80 million. On average, equities analysts expect that UWM Holdings Co. will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.58%. UWM's dividend payout ratio is presently -307.69%.

Institutional Investors Weigh In On UWM

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after purchasing an additional 3,212,081 shares during the last quarter. First Trust Advisors LP grew its holdings in 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 acquiring an additional 3,349,779 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of UWM by 1,144.7% in the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after buying an additional 2,296,205 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new position in shares of UWM in the 4th quarter valued at approximately $6,602,000. Finally, Bank of New York Mellon Corp raised its position in UWM by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock worth $6,386,000 after buying an additional 147,459 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

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.