UWM (NYSE:UWMC) Stock Price Down 3.9% - What's Next?

UWM Holdings Co. (NYSE:UWMC - Get Free Report)'s stock price dropped 3.9% on Friday . The company traded as low as $7.53 and last traded at $7.55. Approximately 530,073 shares traded hands during trading, a decline of 69% from the average daily volume of 1,725,129 shares. The stock had previously closed at $7.86.

Analysts Set New Price Targets

UWMC has been the subject of a number of recent research reports. BTIG Research increased their price target 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. Wedbush raised their target price on shares of UWM from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods raised their target price on shares of UWM from $7.00 to $8.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their target price on shares of UWM from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Finally, UBS Group raised their target price 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, UWM presently has a consensus rating of "Hold" and a consensus price target of $7.39.

UWM Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The company's 50 day moving average is $8.78 and its 200 day moving average is $7.64. The stock has a market cap of $722.09 million, a price-to-earnings ratio of 251.83 and a beta of 1.63.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analysts' expectations of $540.31 million. During the same period last year, the business earned $0.11 EPS. Research analysts forecast that UWM Holdings Co. will post 0.27 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, September 19th. UWM's dividend payout ratio (DPR) is 1,333.33%.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,449,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 94.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in shares of UWM in the first quarter valued at approximately $29,000. Atlas Capital Advisors LLC raised its position in shares of UWM by 190.5% in the first quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company's stock valued at $37,000 after buying an additional 3,309 shares during the last quarter. CWM LLC raised its position in shares of UWM by 96.4% in the second quarter. CWM LLC now owns 6,471 shares of the company's stock valued at $45,000 after buying an additional 3,177 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of UWM in the second quarter valued at approximately $52,000. Finally, SageView Advisory Group LLC acquired a new position in shares of UWM in the first quarter valued at approximately $55,000. Institutional investors and hedge funds 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.