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

EMG Holdings L.P. lessened its holdings in UWM Holdings Corporation (NYSE:UWMC) by 85.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 565,589 shares of the company’s stock after selling 3,211,781 shares during the period. UWM makes up 1.3% of EMG Holdings L.P.’s investment portfolio, making the stock its 10th largest position. EMG Holdings L.P.’s holdings in UWM were worth $3,444,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of UWMC. Azora Capital LP increased its position in shares of UWM by 56.5% during the 3rd 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 boosted its stake 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 buying an additional 1,520,923 shares during the period. Alight Capital Management LP purchased a new position in UWM during the third quarter worth about $3,958,000. Ameriprise Financial Inc. increased its position in shares of UWM by 51.2% during the third quarter. Ameriprise Financial Inc. now owns 28,865 shares of the company’s stock valued at $177,000 after acquiring an additional 9,771 shares during the last quarter. Finally, Creative Planning increased its position in shares of UWM by 75.8% during the third quarter. Creative Planning now owns 238,724 shares of the company’s stock valued at $1,454,000 after acquiring an additional 102,908 shares during the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at UWM

In other news, CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $3.91, for a total transaction of $2,474,537.34. Following the completion of the sale, the chief executive officer directly owned 3,601,919 shares of the company’s stock, valued at approximately $14,083,503.29. The trade was a 14.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 19,205,826 shares of company stock valued at $93,166,931. 87.50% of the stock is currently owned by company insiders.

UWM Trading Down 2.3%

NYSE UWMC opened at $3.66 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 60.92 and a beta of 1.90. The firm has a 50 day simple moving average of $4.88 and a 200-day simple moving average of $5.34. UWM Holdings Corporation has a one year low of $3.62 and a one year high of $7.14.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The business had revenue of $945.25 million for the quarter, compared to analyst estimates of $759.12 million. Equities research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

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

Wall Street Analyst Weigh In

UWMC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of UWM in a research report on Tuesday, March 10th. Weiss Ratings upgraded UWM from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Barclays cut their price objective on UWM from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.