UWM (NYSE:UWMC) Shares Down 3.8% – Should You Sell?

UWM Holdings Co. (NYSE:UWMC) shares traded down 3.8% during mid-day trading on Wednesday . The company traded as low as $5.98 and last traded at $6.00. 657,983 shares were traded during trading, a decline of 67% from the average session volume of 1,971,033 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wedbush boosted their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group upped their price objective on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. The Goldman Sachs Group lowered their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. BTIG Research upped their price objective on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.53.

UWM Trading Up 0.7 %

The company’s fifty day moving average is $7.23 and its two-hundred day moving average is $7.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $9.69 billion, a price-to-earnings ratio of -26.21 and a beta of 1.67.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 annualized dividend and a yield of 6.60%. UWM’s dividend payout ratio is presently -173.91%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 5,000,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares in the company, valued at $1,562,547.20. This trade represents a 96.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 94.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in UWM by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after purchasing an additional 3,207 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after purchasing an additional 67,383 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in UWM by 124.3% in the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after purchasing an additional 30,361 shares in the last quarter. SG Americas Securities LLC lifted its holdings in UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 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.