UWM (NYSE:UWMC) Trading Down 4.3% – Time to Sell?

UWM Holdings Co. (NYSE:UWMC) shares fell 4.3% during trading on Thursday . The company traded as low as $5.61 and last traded at $5.62. 538,821 shares were traded during trading, a decline of 74% from the average session volume of 2,084,594 shares. The stock had previously closed at $5.87.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UWMC. Barclays upgraded UWM from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $6.00 to $8.00 in a report on Tuesday, October 8th. 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 research note on Thursday, September 5th. Morgan Stanley dropped their price objective on UWM from $7.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group lowered their target price on UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods cut their price target on UWM from $9.00 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $7.28.

UWM Stock Performance

The firm’s 50 day moving average is $6.18 and its 200 day moving average is $7.42. 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 market cap of $8.90 billion, a P/E ratio of -24.22 and a beta of 1.65.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.40 annualized dividend and a dividend yield of 7.18%. UWM’s dividend payout ratio is presently -173.91%.

Institutional Investors Weigh In On UWM

Several institutional investors have recently added to or reduced their stakes in UWMC. Wedmont Private Capital raised its position in shares of UWM by 10.8% in the 3rd quarter. Wedmont Private Capital now owns 20,113 shares of the company’s stock valued at $171,000 after purchasing an additional 1,963 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of UWM by 8.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock worth $168,000 after buying an additional 1,991 shares during the period. Rhumbline Advisers grew its holdings in shares of UWM by 3.9% during the second quarter. Rhumbline Advisers now owns 91,964 shares of the company’s stock valued at $637,000 after buying an additional 3,426 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of UWM by 7.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 100,688 shares of the company’s stock valued at $858,000 after acquiring an additional 7,334 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in UWM in the 2nd quarter worth $52,000. 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.