UWM (NYSE:UWMC) Shares Down 4.3% – Here’s Why

UWM Holdings Co. (NYSE:UWMC) dropped 4.3% during trading on Thursday . The stock traded as low as $5.61 and last traded at $5.62. Approximately 538,821 shares changed hands during trading, a decline of 74% from the average daily volume of 2,084,594 shares. The stock had previously closed at $5.87.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UWMC. The Goldman Sachs Group reduced their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their target price on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group raised their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, UWM presently has an average rating of “Hold” and a consensus price target of $7.28.

UWM Stock Down 5.1 %

The firm has a market cap of $8.90 billion, a PE ratio of -24.22 and a beta of 1.65. The business’s 50 day moving average price is $6.18 and its 200 day moving average price is $7.42. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend yield of 7.18%. UWM’s dividend payout ratio (DPR) is presently -173.91%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UWMC. Tidal Investments LLC purchased a new stake in shares of UWM during the third quarter worth $3,833,000. Wilmington Savings Fund Society FSB acquired a new stake in UWM in the 3rd quarter valued at about $239,000. Barclays PLC boosted its holdings in shares of UWM by 485.7% during the 3rd quarter. Barclays PLC now owns 26,022 shares of the company’s stock worth $221,000 after purchasing an additional 21,579 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of UWM in the third quarter valued at approximately $680,000. Finally, Geode Capital Management LLC increased its holdings in shares of UWM by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after purchasing an additional 41,206 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

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.