UWM (NYSE:UWMC) Hits New 52-Week Low – Should You Sell?

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Barclays raised UWM from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $6.00 to $8.00 in a research report on Tuesday, October 8th. Morgan Stanley initiated coverage on shares of UWM in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $7.50 target price for the company. UBS Group lifted their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group cut 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.41.

UWM Stock Down 3.5 %

The company has a fifty day moving average price of $6.46 and a 200-day moving average price of $7.53. 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 firm has a market capitalization of $8.69 billion, a PE ratio of -23.65 and a beta of 1.65.

UWM Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in UWM during the third quarter valued at approximately $3,833,000. Wilmington Savings Fund Society FSB bought a new position in shares of UWM during the 3rd quarter valued at approximately $239,000. Barclays PLC raised its holdings in 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 buying an additional 21,579 shares during the period. Neo Ivy Capital Management bought a new stake in UWM in the third quarter worth $680,000. Finally, Geode Capital Management LLC boosted its stake in UWM by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after buying an additional 41,206 shares during the period. Hedge funds and other 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.