UWM Holdings Corporation $UWMC Shares Sold by EMG Holdings L.P.

EMG Holdings L.P. lowered its holdings in UWM Holdings Corporation (NYSE:UWMC) by 85.0% during the third quarter, HoldingsChannel reports. The fund owned 565,589 shares of the company’s stock after selling 3,211,781 shares during the period. UWM accounts for about 1.3% of EMG Holdings L.P.’s investment portfolio, making the stock its 10th biggest holding. EMG Holdings L.P.’s holdings in UWM were worth $3,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Azora Capital LP lifted its stake in UWM by 56.5% during the third quarter. Azora Capital LP now owns 3,414,467 shares of the company’s stock worth $20,794,000 after purchasing an additional 1,232,892 shares during the last quarter. Bank of America Corp DE raised its holdings in UWM by 40.5% during the third quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock worth $32,152,000 after purchasing an additional 1,520,923 shares in the last quarter. Alight Capital Management LP acquired a new stake in UWM during the third quarter worth approximately $3,958,000. Ameriprise Financial Inc. lifted its position in shares of UWM by 51.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 28,865 shares of the company’s stock worth $177,000 after buying an additional 9,771 shares during the last quarter. Finally, Creative Planning lifted its position in shares of UWM by 75.8% during the 3rd quarter. Creative Planning now owns 238,724 shares of the company’s stock worth $1,454,000 after buying an additional 102,908 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Insiders Place Their Bets

In other UWM news, CEO Ishbia Mat sold 632,874 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $5.46, for a total value of $3,455,492.04. Following the completion of the transaction, the chief executive officer owned 1,251,131 shares in the company, valued at approximately $6,831,175.26. This represents a 33.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 19,205,826 shares of company stock worth $93,166,931 over the last quarter. Corporate insiders own 87.50% of the company’s stock.

UWM Stock Performance

Shares of UWMC opened at $3.66 on Friday. The stock has a market capitalization of $5.85 billion, a P/E ratio of 60.92 and a beta of 1.90. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. UWM Holdings Corporation has a 1 year low of $3.62 and a 1 year high of $7.14. The company’s fifty day moving average is $4.88 and its two-hundred day moving average is $5.34.

UWM (NYSE:UWMC) last issued its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $945.25 million during the quarter, compared to analysts’ expectations of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. On average, sell-side analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.9%. UWM’s payout ratio is 666.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group set a $4.40 target price on shares of UWM in a research report on Wednesday, February 25th. Morgan Stanley set a $6.00 price objective on shares of UWM in a research note on Tuesday, December 16th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of UWM in a report on Tuesday, March 10th. Finally, Weiss Ratings raised UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.49.

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.