UWM (NYSE:UWMC) Sets New 52-Week Low – What’s Next?

UWM Holdings Co. (NYSE:UWMC) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $5.38 and last traded at $5.42, with a volume of 621396 shares trading hands. The stock had previously closed at $5.68.

Wall Street Analyst Weigh In

A number of research analysts have commented on UWMC shares. Morgan Stanley reduced their target price on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays raised shares of UWM from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of UWM from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.39.

UWM Stock Down 3.5 %

The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average price is $6.06 and its 200 day moving average price is $7.35. The firm has a market cap of $8.76 billion, a P/E ratio of -23.83 and a beta of 1.66.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th were paid a $0.10 dividend. The ex-dividend date was Thursday, December 19th. This represents a $0.40 annualized dividend and a dividend yield of 7.30%. UWM’s payout ratio is currently -173.91%.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its holdings in UWM by 3.9% in the second quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock worth $637,000 after purchasing an additional 3,426 shares during the period. Renaissance Technologies LLC lifted its stake in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after acquiring an additional 199,900 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of UWM by 8.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after acquiring an additional 1,991 shares in the last quarter. LJI Wealth Management LLC bought a new position in shares of UWM in the second quarter valued at approximately $105,000. Finally, Intech Investment Management LLC acquired a new position in shares of UWM during the second quarter valued at approximately $85,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.