UWM (NYSE:UWMC) Stock Price Down 3.9% – Here’s Why

UWM Holdings Co. (NYSE:UWMC) was down 3.9% on Friday . The stock traded as low as $7.53 and last traded at $7.55. Approximately 530,073 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,725,129 shares. The stock had previously closed at $7.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on UWMC shares. The Goldman Sachs Group raised their target price on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. BTIG Research lifted their price target on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Wedbush lifted their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods lifted their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price objective 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.39.

UWM Trading Down 3.8 %

The business’s 50 day simple moving average is $8.77 and its two-hundred day simple moving average is $7.64. The stock has a market cap of $722.57 million, a P/E ratio of 252.00 and a beta of 1.63. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87.

UWM (NYSE:UWMC) last posted its earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, analysts expect that UWM Holdings Co. will post 0.27 EPS for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.29%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Insider Transactions at UWM

In other news, CEO Ishbia Mat sold 5,000,000 shares of UWM stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,562,547.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 94.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On UWM

A number of hedge funds have recently modified their holdings of the business. ORG Partners LLC acquired a new position in UWM in the first quarter valued at $29,000. Atlas Capital Advisors LLC lifted its holdings in UWM by 190.5% in the first quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock valued at $37,000 after buying an additional 3,309 shares during the period. CWM LLC lifted its holdings 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 position in UWM in the second quarter valued at $52,000. Finally, SageView Advisory Group LLC acquired a new position in UWM in the first quarter valued at $55,000. 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.