UWM (NYSE:UWMC) Reaches New 1-Year Low After Analyst Downgrade

Shares of UWM Holdings Co. (NYSE:UWMC) reached a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $7.50 to $6.50. Morgan Stanley currently has an equal weight rating on the stock. UWM traded as low as $5.57 and last traded at $5.65, with a volume of 309297 shares trading hands. The stock had previously closed at $5.64.

A number of other research analysts have also commented on the company. Keefe, Bruyette & Woods lowered their price target on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. UBS Group boosted their price target on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research report on Thursday, September 5th. 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. Finally, Barclays raised UWM from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.28.

Institutional Investors Weigh In On UWM

Institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in UWM by 24.5% in the third quarter. FMR LLC now owns 10,218,728 shares of the company’s stock worth $87,064,000 after buying an additional 2,010,985 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in UWM in the third quarter worth approximately $21,797,000. Renaissance Technologies LLC increased its stake in shares of UWM by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after purchasing an additional 199,900 shares during the last quarter. State Street Corp raised its holdings in shares of UWM by 5.0% during the 3rd quarter. State Street Corp now owns 1,592,084 shares of the company’s stock valued at $13,723,000 after purchasing an additional 76,221 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of UWM by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock valued at $13,183,000 after purchasing an additional 41,206 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

UWM Price Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $9.40 billion, a P/E ratio of -25.57 and a beta of 1.65. The stock’s fifty day moving average is $6.40 and its 200-day moving average is $7.51.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date of this dividend is Thursday, December 19th. UWM’s dividend payout ratio is -173.91%.

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.