UWM (NYSE:UWMC) Stock Price Down 5% – Should You Sell?

Shares of UWM Holdings Co. (NYSE:UWMC) traded down 5% during mid-day trading on Monday . The stock traded as low as $4.09 and last traded at $4.12. 779,543 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,459,767 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UWMC. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods reduced their price objective on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Wedbush reiterated a “neutral” rating and set a $6.50 price target on shares of UWM in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, UWM presently has a consensus rating of “Hold” and an average price target of $6.86.

UWM Stock Up 0.5%

The firm has a market capitalization of $6.78 billion, a P/E ratio of -18.43 and a beta of 1.75. 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 stock has a 50 day moving average of $4.88 and a 200-day moving average of $5.69.

UWM (NYSE:UWMC) last announced its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. Research analysts predict that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.43%. UWM’s payout ratio is -307.69%.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently modified their holdings of UWMC. Barclays PLC lifted its stake in shares of UWM by 485.7% in the 3rd quarter. Barclays PLC now owns 26,022 shares of the company’s stock valued at $221,000 after purchasing an additional 21,579 shares during the period. HB Wealth Management LLC lifted its position in UWM by 23.0% during the fourth quarter. HB Wealth Management LLC now owns 14,053 shares of the company’s stock valued at $82,000 after buying an additional 2,631 shares during the period. SG Americas Securities LLC boosted its holdings in shares of UWM by 121.4% during the 4th quarter. SG Americas Securities LLC now owns 42,725 shares of the company’s stock valued at $251,000 after buying an additional 23,424 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of UWM by 5.3% during the 4th quarter. Inspire Investing LLC now owns 188,889 shares of the company’s stock valued at $1,109,000 after buying an additional 9,591 shares in the last quarter. Finally, Secure Asset Management LLC purchased a new stake in shares of UWM in the 4th quarter worth about $119,000. 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.