UWM (NYSE:UWMC) Shares Down 4.3% – Here’s What Happened

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

Analysts Set New Price Targets

UWMC has been the subject of a number of research analyst reports. Barclays upgraded shares of UWM from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $6.00 to $8.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their price target on shares of UWM from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday. The Goldman Sachs Group dropped their price objective on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Morgan Stanley dropped their price target on UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.22.

UWM Trading Up 2.3 %

The company’s 50-day moving average price is $6.14 and its 200 day moving average price is $7.40. 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 $9.22 billion, a PE ratio of -25.09 and a beta of 1.65.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 annualized dividend and a yield of 6.93%. UWM’s dividend payout ratio (DPR) is currently -173.91%.

Hedge Funds Weigh In On UWM

Large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its stake in shares of UWM by 24.5% in the second quarter. Squarepoint Ops LLC now owns 342,322 shares of the company’s stock valued at $2,372,000 after purchasing an additional 67,383 shares during the period. Renaissance Technologies LLC increased its position in shares of UWM by 13.2% during the second quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock worth $11,870,000 after acquiring an additional 199,900 shares during the period. Inspire Investing LLC raised its stake in shares of UWM by 366.1% in the third quarter. Inspire Investing LLC now owns 179,298 shares of the company’s stock valued at $1,528,000 after acquiring an additional 140,830 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in UWM by 56.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company’s stock valued at $3,541,000 after purchasing an additional 149,216 shares during the period. Finally, Carrera Capital Advisors acquired a new position in UWM during the 3rd quarter worth $1,727,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

About UWM

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.