UWM Holdings Corporation [NYSE: UWMC] closed the trading session at $6.00. The company report on February 28, 2024 at 9:00 AM that UWM Holdings Corporation Announces Fourth Quarter & Full Year 2023 Results.
Fourth Quarter Loan Origination Volume of $24.4 Billion, Including Purchase Volume of $20.7 Billion.
UWM Holdings Corporation (NYSE: UWMC) (the “Company”), the publicly traded indirect parent of United Wholesale Mortgage (“UWM”), today announced its results for the fourth quarter and full year ended December 31, 2023. Total loan origination volume for the fourth quarter 2023 was $24.4 billion, of which $20.7 billion was purchase volume. Total loan originations for full year 2023 were $108.3 billion, of which $93.9 billion was purchase volume. The Company reported 4Q23 net loss of $461.0 million, inclusive of a $634.4 million decline in fair value of MSRs, and diluted loss per share of $0.29. The Company reported full year 2023 loss of $69.8 million, inclusive of a $854.1 million decline in fair value of MSRs, and diluted loss per share of $0.14.
The stocks have a year to date performance of -16.08 percent and weekly performance of -19.25 percent. The stock has been moved at 23.71 percent over the last six months. The stock has performed -8.68 percent around the most recent 30 days and changed -16.08 percent over the most recent 3-months.
If compared to the average trading volume of 1.47M shares, UWMC reached to a volume of 7153274 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about UWM Holdings Corporation [UWMC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UWMC shares is $6.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UWMC stock is a recommendation set at 3.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Deutsche Bank have made an estimate for UWM Holdings Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 10, 2024. The new note on the price target was released on January 10, 2024, representing the official price target for UWM Holdings Corporation stock. Previously, the target price had yet another raise to $4, while UBS analysts kept a Sell rating on UWMC stock.
The Average True Range (ATR) for UWM Holdings Corporation is set at 0.33, with the Price to Sales ratio for UWMC stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 4.99, with the Price to Cash per share for the same quarter was set at 5.26. Price to Free Cash Flow for UWMC in the course of the last twelve months was 4.09.
UWMC stock trade performance evaluation
UWM Holdings Corporation [UWMC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.25. With this latest performance, UWMC shares dropped by -8.68% in over the last four-week period, additionally plugging by 23.71% over the last 6 months – not to mention a rise of 22.70% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UWMC stock in for the last two-week period is set at 33.76, with the RSI for the last a single of trading hit 26.74, and the three-weeks RSI is set at 38.30 for UWM Holdings Corporation [UWMC]. The present Moving Average for the last 50 days of trading for this stock 6.78, while it was recorded at 6.86 for the last single week of trading, and 6.02 for the last 200 days.
Earnings per share (EPS) analysis for UWM Holdings Corporation [UWMC] stock
With the latest financial reports released by the company, UWM Holdings Corporation posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -333.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for UWMC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for UWM Holdings Corporation go to -8.56%.
UWM Holdings Corporation [UWMC]: Institutional Ownership
The top three institutional holders of UWMC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in UWMC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in UWMC stock with ownership which is approximately 5.8386%.
