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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $3.87, for a total transaction of $3,872,221.38. Following the completion of the transaction, the chief executive officer directly owned 7,326,413 shares in the company, valued at $28,353,218.31. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.73, for a total transaction of $3,732,141.02.
• On Thursday, April 2nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.69, for a total transaction of $3,692,118.06.
• On Friday, March 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.49, for a total transaction of $3,492,003.26.
• On Tuesday, March 31st, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total transaction of $3,552,037.70.
• On Wednesday, March 25th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total transaction of $3,552,037.70.
• On Monday, March 23rd, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.72, for a total transaction of $3,722,135.28.
• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.60, for a total transaction of $3,602,066.40.
• On Wednesday, March 18th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.73, for a total transaction of $3,732,141.02.
• On Monday, March 16th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.70, for a total transaction 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 transaction of $2,335,305.06.

UWM Price Performance

UWM stock opened at $3.92 on Friday. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 65.33 and a beta of 1.93. The firm’s fifty day moving average is $4.19 and its 200 day moving average is $5.01. 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 52-week low of $3.38 and a 52-week high of $7.14.

UWM (NYSE:UWMC) last released its quarterly 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). The business had revenue of $945.25 million for the quarter, compared to analysts’ expectations of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. Sell-side analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 10.2%. UWM’s dividend payout ratio is presently 666.67%.

Analyst Upgrades and Downgrades

UWMC has been the topic of a number of recent research reports. Barclays decreased their price target on shares of UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday. Weiss Ratings downgraded shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Argus upgraded shares of UWM to a “hold” rating in a research report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, UWM presently has an average rating of “Hold” and an average target price of $6.36.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UWMC. Brandes Investment Partners LP bought a new position in shares of UWM in the fourth quarter worth about $45,867,000. Azora Capital LP grew its holdings in shares of UWM by 230.8% in the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after purchasing an additional 7,881,586 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of UWM in the third quarter worth about $32,630,000. Renaissance Technologies LLC bought a new position in shares of UWM in the fourth quarter worth about $21,580,000. Finally, 683 Capital Management LLC bought a new position in shares of UWM in the second quarter worth about $19,872,000. 53.59% of the stock is currently owned by 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.