UWM (NYSE:UWMC) Shares Down 7.1% - Here's Why

UWM Holdings Co. (NYSE:UWMC - Get Free Report)'s share price dropped 7.1% during mid-day trading on Wednesday . The company traded as low as $4.29 and last traded at $4.29. Approximately 3,744,404 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 4,327,067 shares. The stock had previously closed at $4.62.

Analyst Ratings Changes

A number of equities analysts have issued reports on UWMC shares. Keefe, Bruyette & Woods raised shares of UWM from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $6.50 to $7.50 in a report on Monday, March 3rd. Morgan Stanley lowered their target price on shares of UWM from $7.50 to $6.50 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. Finally, Wedbush reaffirmed a "neutral" rating and set a $6.50 target price on shares of UWM in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.25.

UWM Stock Up 7.3 %

The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The company has a market cap of $7.50 billion, a price-to-earnings ratio of -20.39 and a beta of 1.64. The business has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $6.22.

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

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.53%. The ex-dividend date was Thursday, March 20th. UWM's payout ratio is 500.00%.

Institutional Investors Weigh In On UWM

A number of large investors have recently added to or reduced their stakes in the stock. Townsquare Capital LLC bought a new position in UWM in the 4th quarter worth approximately $72,000. Sanctuary Advisors LLC acquired a new stake in shares of UWM during the 4th quarter worth about $77,000. HB Wealth Management LLC increased its holdings in shares of UWM by 23.0% during the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company's stock worth $82,000 after buying an additional 2,631 shares in the last quarter. Sei Investments Co. acquired a new stake in UWM during the 4th quarter valued at $82,000. Finally, Parallel Advisors LLC raised its holdings in shares of UWM by 60.3% in the first quarter. Parallel Advisors LLC now owns 15,175 shares of the company's stock valued at $83,000 after buying an additional 5,709 shares during 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.