UWM (NYSE:UWMC) Hits New 1-Year Low – What’s Next?

UWM Holdings Co. (NYSE:UWMC) shares reached a new 52-week low on Tuesday . The stock traded as low as $5.30 and last traded at $5.34, with a volume of 2453961 shares traded. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UWMC. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Wedbush reiterated a “neutral” rating and set a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Finally, Morgan Stanley cut their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UWM has an average rating of “Hold” and a consensus price target of $7.25.

UWM Stock Performance

The company has a market cap of $8.54 billion, a PE ratio of -23.24 and a beta of 1.64. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $6.15 and its two-hundred day moving average is $6.49.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $560.21 million during the quarter, compared to analysts’ expectations of $645.75 million. On average, equities research analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date of this dividend is Thursday, March 20th. UWM’s dividend payout ratio (DPR) is currently 500.00%.

Hedge Funds Weigh In On UWM

Several hedge funds have recently modified their holdings of UWMC. Orion Portfolio Solutions LLC purchased a new position in UWM during the third quarter valued at $85,000. Sanctuary Advisors LLC purchased a new position in shares of UWM during the fourth quarter valued at about $77,000. Townsquare Capital LLC bought a new stake in shares of UWM in the fourth quarter worth about $72,000. Quantinno Capital Management LP purchased a new stake in shares of UWM in the third quarter worth about $106,000. Finally, Sei Investments Co. bought a new position in UWM during the fourth quarter valued at approximately $82,000. Hedge funds and other 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.