Ishbia Mat Sells 632,874 Shares of UWM (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $4.25, for a total transaction of $2,689,714.50. Following the sale, the chief executive officer directly owned 7,399,163 shares of the company’s stock, valued at $31,446,442.75. The trade was a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ishbia Mat also recently made the following trade(s):

• On Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.11, for a total transaction of $2,601,112.14.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.03, for a total transaction of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.52, for a total transaction of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.77, for a total transaction of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.88, for a total transaction of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.94, for a total value of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.66, for a total value of $2,949,192.84.
• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.61, for a total value of $2,917,549.14.
• On Friday, February 6th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.84, for a total value of $3,063,110.16.
• On Wednesday, February 4th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.05, for a total value of $3,196,013.70.

UWM Stock Down 4.5%

UWMC stock opened at $3.85 on Friday. The business’s 50-day moving average price is $4.94 and its 200-day moving average price is $5.41. The stock has a market cap of $6.16 billion, a P/E ratio of 64.17 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 twelve month low of $3.79 and a twelve month 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 the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The firm had revenue of $945.25 million during the quarter, compared to analysts’ expectations of $759.12 million. On average, equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.4%. The ex-dividend date of this dividend is Thursday, March 19th. UWM’s payout ratio is 666.67%.

Analyst Ratings Changes

Several equities analysts have weighed in on UWMC shares. Zacks Research cut UWM from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. Jefferies Financial Group set a $4.40 target price on UWM in a report on Wednesday, February 25th. Keefe, Bruyette & Woods dropped their price target on shares of UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 27th. Weiss Ratings upgraded UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Finally, UBS Group upped their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, UWM presently has a consensus rating of “Hold” and an average target price of $6.20.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after purchasing an additional 4,091 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of UWM by 408.7% in the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after buying an additional 4,344 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of UWM in the second quarter worth about $35,000. Farther Finance Advisors LLC raised its position in UWM by 1,410.7% during the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after buying an additional 8,027 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in UWM in the third quarter valued at $38,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.