UWM (NYSE:UWMC) Stock Price Down 5.1% – Here’s What Happened
by Tristan Rich · The Markets DailyUWM Holdings Corporation (NYSE:UWMC – Get Free Report) shares traded down 5.1% on Friday . The company traded as low as $4.88 and last traded at $4.8850. 7,636,149 shares traded hands during trading, a decline of 61% from the average session volume of 19,589,303 shares. The stock had previously closed at $5.15.
Wall Street Analysts Forecast Growth
UWMC has been the topic of several recent analyst reports. Morgan Stanley set a $6.00 target price on shares of UWM in a research report on Tuesday, December 16th. Jefferies Financial Group began coverage on UWM in a research report on Friday, December 19th. They set a “hold” rating and a $5.00 price target for the company. Wall Street Zen lowered UWM from a “hold” rating to a “strong sell” rating in a report on Saturday, November 15th. UBS Group upped their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group set a $5.00 target price on UWM in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and an average price target of $6.53.
View Our Latest Research Report on UWM
UWM Trading Down 7.8%
The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40. The stock has a 50 day moving average of $5.24 and a 200-day moving average of $5.41.
UWM (NYSE:UWMC – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. UWM had a net margin of 0.61% and a negative return on equity of 6.81%. As a group, sell-side analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.
Insider Buying and Selling at UWM
In related news, CEO Ishbia Mat sold 632,874 shares of the stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $4.57, for a total transaction of $2,892,234.18. Following the sale, the chief executive officer owned 2,245,619 shares of the company’s stock, valued at approximately $10,262,478.83. This represents a 21.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 19,896,625 shares of company stock valued at $104,743,834 in the last three months. 87.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Oak Thistle LLC purchased a new stake in UWM in the 3rd quarter worth approximately $1,337,000. Hsbc Holdings PLC purchased a new stake in shares of UWM in the second quarter worth $792,000. AGF Management Ltd. bought a new stake in UWM during the second quarter valued at $3,072,000. 683 Capital Management LLC purchased a new position in UWM during the second quarter worth about $19,872,000. Finally, Capital Fund Management S.A. increased its stake in UWM by 260.9% in the 2nd quarter. Capital Fund Management S.A. now owns 573,583 shares of the company’s stock worth $2,375,000 after acquiring an additional 414,667 shares during the last quarter. Hedge funds and other 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.