UWM (NYSE:UWMC) Shares Gap Down to $7.26

UWM Holdings Co. (NYSE:UWMC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $7.26, but opened at $7.10. UWM shares last traded at $7.10, with a volume of 119,691 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $7.00 target price on shares of UWM in a research report on Friday, May 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $7.00 target price (up previously from $6.00) on shares of UWM in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.69.

UWM Stock Performance

The business has a fifty day moving average of $6.99 and a 200-day moving average of $6.80. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $667.15 million, a P/E ratio of 232.67 and a beta of 1.65.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 20th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date is Thursday, June 20th. UWM’s dividend payout ratio is currently 1,333.33%.

Hedge Funds Weigh In On UWM

A number of large investors have recently modified their holdings of the company. Quent Capital LLC raised its position in UWM by 59.8% in the 4th quarter. Quent Capital LLC now owns 13,401 shares of the company’s stock valued at $96,000 after buying an additional 5,013 shares during the last quarter. Wedmont Private Capital purchased a new stake in UWM in the 4th quarter valued at $104,000. Patriot Financial Group Insurance Agency LLC raised its position in UWM by 10.5% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 22,438 shares of the company’s stock valued at $160,000 after buying an additional 2,140 shares during the last quarter. FMR LLC raised its position in UWM by 30.6% in the 3rd quarter. FMR LLC now owns 6,077,084 shares of the company’s stock valued at $29,474,000 after buying an additional 1,424,451 shares during the last quarter. Finally, Azora Capital LP purchased a new stake in UWM in the 4th quarter valued at $6,705,000. 53.59% of the stock is currently owned by 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.