UWM (NYSE:UWMC) Trading Down 3.6%

UWM Holdings Co. (NYSE:UWMC) shares dropped 3.6% during trading on Thursday . The company traded as low as $8.87 and last traded at $8.96. Approximately 572,228 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 1,625,681 shares. The stock had previously closed at $9.29.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of recent research reports. Wedbush increased their price objective on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Barclays increased their price target on UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group increased their price target on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. BTIG Research increased their price target on UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods increased their price target on UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.29.

UWM Price Performance

The company’s 50-day simple moving average is $7.63 and its 200-day simple moving average is $7.10. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $855.42 million, a price-to-earnings ratio of 310.00 and a beta of 1.63.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same period in the previous year, the business earned $0.11 EPS. Research analysts forecast that UWM Holdings Co. will post 0.28 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.40 annualized dividend and a yield of 4.47%. UWM’s dividend payout ratio (DPR) is presently 1,333.33%.

Institutional Investors Weigh In On UWM

Several institutional investors have recently made changes to their positions in UWMC. Azora Capital LP bought a new position in UWM in the 4th quarter valued at about $6,705,000. SG Americas Securities LLC boosted its holdings in shares of UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock valued at $1,662,000 after purchasing an additional 226,819 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of UWM by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,712,900 shares of the company’s stock valued at $11,870,000 after purchasing an additional 199,900 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of UWM by 203.7% during the 2nd quarter. AQR Capital Management LLC now owns 258,883 shares of the company’s stock worth $1,784,000 after buying an additional 173,652 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of UWM during the 2nd quarter worth $626,000. 53.59% of the stock is currently owned by institutional investors.

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.