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

Shares of UWM Holdings Corporation (NYSE:UWMCGet Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.28 and last traded at $2.4350, with a volume of 28081574 shares trading hands. The stock had previously closed at $2.35.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of analyst reports. BTIG Research reduced their price target on UWM to $4.00 and set a “buy” rating on the stock in a research report on Tuesday. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of UWM in a report on Friday, June 5th. Stephens initiated coverage on UWM in a research report on Friday, April 24th. They issued an “equal weight” rating and a $4.00 price target on the stock. Finally, Weiss Ratings downgraded UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.19.

Get Our Latest Stock Analysis on UWM

UWM Price Performance

The firm has a market capitalization of $3.90 billion, a P/E ratio of 9.02 and a beta of 1.72. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The business’s 50 day moving average is $3.24 and its 200-day moving average is $4.22.

UWM (NYSE:UWMCGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. UWM had a return on equity of 19.01% and a net margin of 1.92%.The firm had revenue of $901.43 million during the quarter, compared to analysts’ expectations of $709.85 million. As a group, sell-side analysts predict that UWM Holdings Corporation will post 0.38 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 16.4%. The ex-dividend date is Thursday, June 18th. UWM’s dividend payout ratio is currently 148.15%.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $3.39, for a total value of $3,401,298.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,941,486 shares of company stock valued at $84,173,589 over the last quarter. Company insiders own 80.30% of the company’s stock.

Institutional Investors Weigh In On UWM

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in UWM by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after purchasing an additional 1,676,754 shares during the last quarter. Azora Capital LP increased its holdings in shares of UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after buying an additional 7,881,586 shares in the last quarter. Brandes Investment Partners LP acquired a new position in shares of UWM during the fourth quarter worth $45,867,000. Bank of America Corp DE lifted its stake in shares of UWM by 127.4% in the 1st quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after acquiring an additional 3,905,286 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in shares of UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

About UWM

(Get Free Report)

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.

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