UWM (NYSE:UWMC) CEO Ishbia Mat Sells 1,000,574 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction on Monday, April 6th. The shares were sold at an average price of $3.73, for a total value of $3,732,141.02. Following the sale, the chief executive officer directly owned 9,327,561 shares of the company’s stock, valued at approximately $34,791,802.53. The trade was a 9.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 2nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.69, for a total value of $3,692,118.06.
• On Friday, March 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.49, for a total value of $3,492,003.26.
• On Tuesday, March 31st, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.55, for a total value of $3,552,037.70.
• On Wednesday, March 25th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.55, for a total value of $3,552,037.70.
• On Monday, March 23rd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.72, for a total value of $3,722,135.28.
• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.60, for a total value of $3,602,066.40.
• On Wednesday, March 18th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.73, for a total value of $3,732,141.02.
• On Monday, March 16th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.70, for a total value of $3,702,123.80.
• On Friday, March 13th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.69, for a total value of $2,335,305.06.
• On Wednesday, March 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.91, for a total value of $2,474,537.34.

UWM Price Performance

NYSE UWMC opened at $3.74 on Tuesday. UWM Holdings Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $7.14. The stock’s 50-day moving average is $4.31 and its two-hundred day moving average is $5.04. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market cap of $5.98 billion, a P/E ratio of 62.27 and a beta of 1.93.

UWM (NYSE:UWMC) last posted 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). 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 for the quarter, compared to the consensus estimate of $759.12 million. On average, analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently announced 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 10.7%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio (DPR) is 666.67%.

Hedge Funds Weigh In On UWM

Institutional investors have recently made changes to their positions in the business. Integrated Investment Consultants LLC bought a new position in shares of UWM in the third quarter worth about $32,630,000. Tudor Investment Corp ET AL bought a new position in shares of UWM in the third quarter worth about $12,237,000. Vanguard Group Inc. increased its stake in shares of UWM by 6.2% in the third quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock worth $105,252,000 after purchasing an additional 1,010,907 shares during the period. Alight Capital Management LP acquired a new stake in UWM during the third quarter worth about $3,958,000. Finally, Oak Thistle LLC acquired a new stake in UWM during the third quarter worth about $1,337,000. 53.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on UWMC. Weiss Ratings lowered UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Barclays cut their target price on UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday. Compass Point started coverage on UWM in a research note on Tuesday, March 10th. They issued a “buy” rating and a $8.50 price objective on the stock. Argus upgraded UWM to a “hold” rating in a research note on Tuesday, March 31st. Finally, BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of UWM in a research note on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.36.

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.