UWM (NYSE:UWMC) Reaches New 52-Week Low – What’s Next?

UWM Holdings Corporation (NYSE:UWMC)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $3.06 and last traded at $3.0650, with a volume of 8801901 shares. The stock had previously closed at $3.10.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on UWMC shares. Argus raised UWM to a “hold” rating in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $5.50 price target on shares of UWM in a research note on Thursday, May 7th. Weiss Ratings raised UWM from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Jefferies Financial Group set a $4.40 target price on UWM in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.79.

UWM Trading Down 2.4%

The firm has a 50-day moving average of $3.68 and a 200 day moving average of $4.66. The company has a market cap of $4.84 billion, a P/E ratio of 11.20 and a beta of 1.78. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 3.13.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $901.43 million for the quarter, compared to analyst estimates of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. On average, analysts predict that UWM Holdings Corporation will post 0.38 earnings per share for the current fiscal 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 issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date is Thursday, June 18th. UWM’s dividend payout ratio (DPR) is presently 148.15%.

Insiders Place Their Bets

In other news, CEO Ishbia Mat sold 1,003,333 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $3.39, for a total transaction of $3,401,298.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,271,374 shares of company stock valued at $118,745,491 over the last ninety days. Insiders own 80.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of UWM during the first quarter valued at approximately $92,000. Focus Partners Wealth bought a new stake in UWM during the 1st quarter valued at $55,000. Cetera Investment Advisers raised its holdings in UWM by 20.5% during the second quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock worth $468,000 after buying an additional 19,239 shares during the last quarter. Legal & General Group Plc raised its holdings in UWM by 65.9% during the second quarter. Legal & General Group Plc now owns 180,164 shares of the company’s stock worth $746,000 after buying an additional 71,555 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of UWM by 18.5% in the second quarter. Rhumbline Advisers now owns 115,501 shares of the company’s stock valued at $478,000 after buying an additional 18,034 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

About UWM

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.