UWM (NYSE:UWMC) Trading Down 3.6%

UWM Holdings Co. (NYSE:UWMC)’s share price dropped 3.6% during mid-day trading on Thursday . The stock traded as low as $8.87 and last traded at $8.96. Approximately 572,228 shares were traded during trading, a decline of 65% from the average daily volume of 1,625,681 shares. The stock had previously closed at $9.29.

Wall Street Analysts Forecast Growth

UWMC has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Barclays boosted their price target on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Wedbush boosted their price objective 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. Finally, BTIG Research boosted their target price on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, UWM currently has a consensus rating of “Hold” and an average target price of $7.29.

UWM Stock Down 3.7 %

The stock has a market cap of $855.42 million, a PE ratio of 310.00 and a beta of 1.63. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $7.63 and a 200-day moving average price of $7.10.

UWM (NYSE:UWMC) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $540.31 million. During the same quarter in the prior year, the firm earned $0.11 EPS. As a group, analysts forecast that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, September 19th. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently modified their holdings of UWMC. McAdam LLC increased its position in shares of UWM by 16.0% during the 2nd quarter. McAdam LLC now owns 12,721 shares of the company’s stock worth $88,000 after purchasing an additional 1,758 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in UWM by 8.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock valued at $168,000 after buying an additional 1,991 shares during the period. Quadrant Capital Group LLC raised its holdings in UWM by 63.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock valued at $55,000 after buying an additional 2,952 shares during the period. Parallel Advisors LLC raised its holdings in UWM by 44.3% in the 4th quarter. Parallel Advisors LLC now owns 9,820 shares of the company’s stock valued at $70,000 after buying an additional 3,014 shares during the period. Finally, CWM LLC raised its holdings in UWM by 96.4% in the 2nd 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. 53.59% of the stock is 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.