UWM (NYSE:UWMC) Shares Down 5.2% - Here's What Happened

UWM Holdings Co. (NYSE:UWMC - Get Free Report) was down 5.2% during mid-day trading on Monday . The company traded as low as $4.11 and last traded at $4.08. Approximately 828,265 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,233,905 shares. The stock had previously closed at $4.30.

Analyst Upgrades and Downgrades

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

UWM Price Performance

The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average of $4.47 and a two-hundred day moving average of $5.53. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of -18.26 and a beta of 1.70.

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

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given 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 dividend yield of 9.52%. UWM's payout ratio is -307.69%.

Hedge Funds Weigh In On UWM

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in UWM by 37.6% in 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. KLP Kapitalforvaltning AS purchased a new stake in shares of UWM in the 4th quarter worth about $121,000. Wells Fargo & Company MN grew its stake in UWM by 9.9% in the 4th quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock valued at $381,000 after acquiring an additional 5,849 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in UWM by 25.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,014 shares of the company's stock valued at $176,000 after acquiring an additional 6,181 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in UWM during the fourth quarter worth about $77,000. 53.59% of the stock is owned by hedge funds and other 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.