Azora Capital LP Buys 1,232,892 Shares of UWM Holdings Corporation $UWMC

Azora Capital LP boosted its stake in UWM Holdings Corporation (NYSE:UWMC) by 56.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,414,467 shares of the company’s stock after buying an additional 1,232,892 shares during the quarter. Azora Capital LP’s holdings in UWM were worth $20,794,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. State of Wyoming raised its stake in UWM by 24.9% during the third quarter. State of Wyoming now owns 14,552 shares of the company’s stock worth $89,000 after acquiring an additional 2,902 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of UWM by 8.1% in the 3rd quarter. Arizona State Retirement System now owns 50,661 shares of the company’s stock valued at $309,000 after purchasing an additional 3,785 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of UWM by 40.9% in the 3rd quarter. HB Wealth Management LLC now owns 16,162 shares of the company’s stock worth $98,000 after purchasing an additional 4,689 shares during the last quarter. Finally, Equitable Holdings Inc. increased its position in shares of UWM by 26.5% during the 3rd quarter. Equitable Holdings Inc. now owns 23,589 shares of the company’s stock worth $144,000 after purchasing an additional 4,943 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UWMC shares. Barclays cut their price target on shares of UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Morgan Stanley set a $6.00 price objective on shares of UWM in a report on Tuesday, December 16th. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of UWM in a research note on Tuesday, March 10th. Weiss Ratings raised UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Finally, Jefferies Financial Group set a $4.40 price target on UWM in a research report on Wednesday, February 25th. Three 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 company presently has a consensus rating of “Hold” and a consensus target price of $6.49.

Insider Buying and Selling at UWM

In related news, CEO Ishbia Mat sold 632,874 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $3.91, for a total value of $2,474,537.34. Following the completion of the transaction, the chief executive officer owned 3,601,919 shares in the company, valued at $14,083,503.29. The trade was a 14.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 19,205,826 shares of company stock valued at $93,166,931 over the last three months. Company insiders own 87.50% of the company’s stock.

UWM Stock Down 2.3%

Shares of NYSE UWMC opened at $3.66 on Friday. The firm’s 50-day simple moving average is $4.88 and its 200 day simple moving average is $5.34. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 60.92 and a beta of 1.90. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. UWM Holdings Corporation has a 12-month low of $3.62 and a 12-month high of $7.14.

UWM (NYSE:UWMC) last posted its quarterly earnings data 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). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The company had revenue of $945.25 million during the quarter, compared to analyst estimates of $759.12 million. On average, research analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

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

UWM Company Profile

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.