UWM (NYSE:UWMC) Reaches New 12-Month Low – Should You Sell?

UWM Holdings Co. (NYSE:UWMC) shares hit a new 52-week low during trading on Thursday . The company traded as low as $5.57 and last traded at $5.65, with a volume of 309297 shares changing hands. The stock had previously closed at $5.64.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UWMC shares. Keefe, Bruyette & Woods decreased their target price on UWM from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Morgan Stanley assumed coverage on UWM in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $7.50 price target on the stock. The Goldman Sachs Group dropped their target price 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 upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Finally, UBS Group lifted 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.41.

UWM Price Performance

The stock has a market cap of $8.69 billion, a PE ratio of -23.65 and a beta of 1.65. 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 business has a fifty day simple moving average of $6.46 and a two-hundred day simple moving average of $7.53.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 7.35%. UWM’s dividend payout ratio (DPR) is currently -173.91%.

Institutional Investors Weigh In On UWM

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

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.