UWM (NYSE:UWMC) Reaches New 12-Month Low – Here’s What Happened

UWM Holdings Corporation (NYSE:UWMC)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $1.98 and last traded at $2.0750, with a volume of 1718639 shares. The stock had previously closed at $2.06.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UWMC. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $5.50 price objective on shares of UWM in a research report on Thursday, May 7th. Barclays decreased their target price on shares of UWM from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday. Morgan Stanley set a $3.75 price target on shares of UWM in a report on Thursday, June 25th. Keefe, Bruyette & Woods upgraded shares of UWM from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $4.50 to $3.75 in a research report on Thursday, June 25th. Finally, Argus raised shares of UWM to a “hold” rating in a research note on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.89.

UWM Stock Performance

The company has a debt-to-equity ratio of 3.13, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a fifty day simple moving average of $2.75 and a two-hundred day simple moving average of $3.86. The firm has a market capitalization of $3.28 billion, a P/E ratio of 7.61 and a beta of 1.76.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. UWM had a net margin of 1.92% and a return on equity of 19.01%. The company had revenue of $901.43 million during the quarter, compared to the consensus estimate of $709.85 million. On average, research analysts predict that UWM Holdings Corporation will post 0.36 EPS for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 19.6%. The ex-dividend date of this dividend is Thursday, June 18th. UWM’s payout ratio is 148.15%.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 1,003,333 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $3.57, for a total transaction of $3,581,898.81. Following the transaction, the chief executive officer owned 2,995,754 shares in the company, valued at approximately $10,694,841.78. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,936,894 shares of company stock worth $54,956,828 in the last quarter. 80.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC lifted its holdings in shares of UWM by 62.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 482,521 shares of the company’s stock worth $1,105,000 after purchasing an additional 184,694 shares in the last quarter. CoreCap Advisors LLC raised its holdings in UWM by 2,453.8% during the second quarter. CoreCap Advisors LLC now owns 51,332 shares of the company’s stock worth $118,000 after buying an additional 49,322 shares during the last quarter. Integrated Investment Consultants LLC lifted its stake in shares of UWM by 0.5% in the first quarter. Integrated Investment Consultants LLC now owns 5,371,664 shares of the company’s stock valued at $19,445,000 after buying an additional 26,679 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of UWM by 127.4% during the first quarter. Bank of America Corp DE now owns 6,969,809 shares of the company’s stock valued at $25,231,000 after buying an additional 3,905,286 shares during the last quarter. Finally, Bull Harbor Capital LLC acquired a new position in shares of UWM during the first quarter valued at about $45,000. Institutional investors own 53.59% of the company’s stock.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.