UWM (NYSE:UWMC) Hits New 12-Month Low - Here's Why

UWM Holdings Co. (NYSE:UWMC - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.30 and last traded at $5.34, with a volume of 2453961 shares traded. The stock had previously closed at $5.46.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on UWMC shares. Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $6.50 to $7.50 in a research report on Monday, March 3rd. Morgan Stanley cut their target price on 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, Wedbush reissued a "neutral" rating and set a $6.50 price target on shares of UWM in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.25.

UWM Stock Performance

The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of -23.15 and a beta of 1.64. The stock has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $6.45. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The company had revenue of $560.21 million during the quarter, compared to analyst estimates of $645.75 million. Analysts forecast that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

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UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a dividend yield of 7.48%. UWM's dividend payout ratio is currently 500.00%.

Institutional Trading of UWM

Several hedge funds have recently added to or reduced their stakes in UWMC. Wealth Enhancement Advisory Services LLC grew its holdings in shares of UWM by 14.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 55,858 shares of the company's stock valued at $328,000 after purchasing an additional 6,976 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of UWM by 16.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,047 shares of the company's stock valued at $1,157,000 after acquiring an additional 27,531 shares in the last quarter. Voloridge Investment Management LLC raised its position in UWM by 9.9% in the 4th quarter. Voloridge Investment Management LLC now owns 699,778 shares of the company's stock worth $4,108,000 after buying an additional 62,978 shares during the last quarter. Trace Wealth Advisors LLC bought a new stake in shares of UWM in the fourth quarter worth $132,000. Finally, Sherbrooke Park Advisers LLC lifted its position in UWM by 17.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company's stock valued at $118,000 after purchasing an additional 2,975 shares in the last quarter. 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.