UWM (NYSE:UWMC) Reaches New 12-Month Low – Time to Sell?

UWM Holdings Co. (NYSE:UWMC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $5.38 and last traded at $5.42, with a volume of 621396 shares. The stock had previously closed at $5.68.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UWMC shares. Morgan Stanley cut their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. Keefe, Bruyette & Woods dropped their price objective on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $8.00 in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group dropped their price target on UWM from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.39.

UWM Stock Down 3.5 %

The firm’s 50-day moving average is $6.06 and its 200 day moving average is $7.35. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of -23.83 and a beta of 1.66. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 7.30%. UWM’s dividend payout ratio is currently -173.91%.

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently modified their holdings of the stock. Wedmont Private Capital lifted its stake in shares of UWM by 10.8% in the third quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock worth $171,000 after acquiring an additional 1,963 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of UWM by 8.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after buying an additional 1,991 shares during the last quarter. Rhumbline Advisers grew its position in shares of UWM by 3.9% during the second quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after buying an additional 3,426 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of UWM by 7.9% in the third quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company’s stock worth $858,000 after buying an additional 7,334 shares during the last quarter. Finally, CWM LLC raised its holdings in UWM by 120.1% in the third quarter. CWM LLC now owns 14,243 shares of the company’s stock valued at $121,000 after acquiring an additional 7,772 shares in the last quarter. 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.