UWM (NYSE:UWMC) Stock Price Down 10.1% – What’s Next?

UWM Holdings Corporation (NYSE:UWMC)’s stock price traded down 10.1% on Friday. The company traded as low as $1.5050 and last traded at $1.4650. 1,523,802 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 18,057,611 shares. The stock had previously closed at $1.63.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UWMC shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $1.50 target price on shares of UWM in a research note on Wednesday. Stephens decreased their price target on shares of UWM from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Wall Street Zen downgraded shares of UWM from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of UWM from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, Citizens Jmp raised shares of UWM from a “market perform” rating to an “outperform” rating and set a $3.00 price objective for the company in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, UWM currently has a consensus rating of “Hold” and a consensus target price of $2.45.

UWM Stock Down 5.2%

The stock has a market cap of $2.48 billion, a P/E ratio of 77.25, a P/E/G ratio of 3.45 and a beta of 1.82. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 6.05. The company has a 50-day simple moving average of $1.31 and a two-hundred day simple moving average of $2.73.

UWM (NYSE:UWMC) last issued its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.06. UWM had a net margin of 0.55% and a return on equity of 4.24%. The firm had revenue of $811.09 million for the quarter, compared to analysts’ expectations of $690.29 million. On average, equities analysts forecast that UWM Holdings Corporation will post 0.07 EPS for the current year.

Institutional Investors Weigh In On UWM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UWMC. R Squared Ltd boosted its position in UWM by 43.2% during the 3rd quarter. R Squared Ltd now owns 22,199 shares of the company’s stock valued at $26,000 after buying an additional 6,699 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in UWM in the 3rd quarter worth $35,000. 180 Wealth Advisors LLC increased its position in shares of UWM by 108.3% in the third quarter. 180 Wealth Advisors LLC now owns 1,005,130 shares of the company’s stock valued at $1,186,000 after acquiring an additional 522,609 shares during the period. Signature Equity Partners LLC increased its position in shares of UWM by 9.8% in the third quarter. Signature Equity Partners LLC now owns 1,328,488 shares of the company’s stock valued at $1,568,000 after acquiring an additional 118,659 shares during the period. Finally, Vise Technologies Inc. purchased a new position in shares of UWM in the third quarter valued at about $188,000. 53.59% of the stock is currently owned by institutional investors.

UWM Company Profile

UWM Holdings Corporation, through its principal subsidiary United Wholesale Mortgage (UWM), operates as a wholesale mortgage lender in the United States. The company provides residential mortgage loans through a network of independent mortgage brokers, who work directly with borrowers and submit applications to UWM for underwriting and funding.

UWM offers a range of home loan products, including conventional, government-backed, jumbo and other residential mortgage programs. Its platform also provides brokers with technology, loan processing, underwriting and closing services designed to support the origination of mortgages for home purchases and refinancings.

United Wholesale Mortgage traces its history to 1986 and is headquartered in Pontiac, Michigan.