UWM (NYSE:UWMC) Sets New 52-Week Low - Here's Why

UWM Holdings Co. (NYSE:UWMC - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $5.57 and last traded at $5.65, with a volume of 309297 shares traded. The stock had previously closed at $5.64.

Analyst Upgrades and Downgrades

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

UWM Stock Down 1.6 %

The stock has a market cap of $9.03 billion, a price-to-earnings ratio of -24.57 and a beta of 1.65. 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 firm's 50-day simple moving average is $6.43 and its two-hundred day simple moving average is $7.52.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Thursday, December 19th. UWM's dividend payout ratio (DPR) is presently -173.91%.

Institutional Investors Weigh In On UWM

Several institutional investors have recently modified their holdings of UWMC. CWM LLC lifted its stake in 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 period. International Assets Investment Management LLC acquired a new stake in shares of UWM in the 2nd quarter valued at approximately $52,000. Xponance Inc. bought a new position in UWM during the 2nd quarter worth approximately $76,000. Intech Investment Management LLC acquired a new position in UWM during the second quarter valued at approximately $85,000. Finally, Orion Portfolio Solutions LLC bought a new stake in UWM in the third quarter valued at approximately $85,000. 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.