Governors Lane LP Purchases Shares of 2,000,000 UWM Holdings Corporation $UWMC

Governors Lane LP purchased a new stake in shares of UWM Holdings Corporation (NYSE:UWMC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,000,000 shares of the company’s stock, valued at approximately $8,760,000. Governors Lane LP owned 0.13% of UWM as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Evolve Private Wealth LLC bought a new stake in UWM during the fourth quarter valued at about $53,000. Engineers Gate Manager LP bought a new stake in UWM during the fourth quarter valued at about $730,000. Clayton Partners LLC bought a new stake in UWM during the fourth quarter valued at about $263,000. Concentric Capital Strategies LP grew its holdings in UWM by 507.8% during the fourth quarter. Concentric Capital Strategies LP now owns 2,251,999 shares of the company’s stock valued at $9,864,000 after purchasing an additional 1,881,483 shares during the period. Finally, Azora Capital LP grew its holdings in UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock valued at $49,477,000 after purchasing an additional 7,881,586 shares during the period. Institutional investors own 53.59% of the company’s stock.

UWM Stock Performance

NYSE UWMC opened at $2.28 on Thursday. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 8.43 and a beta of 1.72. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.13. The business has a 50-day moving average price of $3.21 and a 200-day moving average price of $4.19. UWM Holdings Corporation has a twelve month low of $2.25 and a twelve month high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $901.43 million during the quarter, compared to analyst estimates of $709.85 million. UWM had a return on equity of 19.01% and a net margin of 1.92%. As a group, equities research analysts predict that UWM Holdings Corporation will post 0.38 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date is Thursday, June 18th. UWM’s payout ratio is currently 148.15%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UWMC. Compass Point began coverage on UWM in a report on Tuesday, March 10th. They set a “buy” rating and a $8.50 price target for the company. Weiss Ratings lowered UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Argus raised UWM to a “hold” rating in a research note on Tuesday, March 31st. Stephens started coverage on UWM in a research note on Friday, April 24th. They issued an “equal weight” rating and a $4.00 price objective for the company. Finally, Morgan Stanley set a $5.00 price objective on UWM in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.19.

Insider Activity at UWM

In related news, CEO Ishbia Mat sold 1,003,333 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $3.39, for a total value of $3,401,298.87. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,941,486 shares of company stock valued at $84,173,589 in the last quarter. 80.30% of the stock is currently owned by insiders.

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.