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 the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3.71, for a total transaction of $3,712,129.54. Following the completion of the transaction, the chief executive officer owned 5,325,265 shares of the company’s stock, valued at $19,756,733.15. This represents a 15.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 13th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.66, for a total transaction of $3,662,100.84.
• On Wednesday, April 8th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.87, for a total transaction of $3,872,221.38.
• 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 shares were 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 shares were 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 value 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 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 stock was 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 stock was sold at an average price of $3.73, for a total value of $3,732,141.02.

UWM Stock Up 0.8%

UWM stock opened at $3.72 on Tuesday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 61.98 and a beta of 1.93. UWM Holdings Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $7.14. The stock’s fifty day moving average is $4.14 and its two-hundred day moving average is $4.95.

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 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 for the quarter, compared to analyst estimates of $759.12 million. Analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 10.8%. UWM’s payout ratio is presently 666.67%.

Institutional Investors Weigh In On UWM

A number of hedge funds and other institutional investors have recently modified their holdings of UWMC. Vanguard Group Inc. lifted its stake in shares of UWM by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after buying an additional 1,676,754 shares during the period. Azora Capital LP boosted its position in UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after acquiring an additional 7,881,586 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in UWM in the 4th quarter worth approximately $45,867,000. Balyasny Asset Management L.P. raised its holdings in UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the last quarter. Finally, Integrated Investment Consultants LLC acquired a new position in UWM in the 3rd quarter valued at $32,630,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Compass Point assumed coverage on shares of UWM in a research note on Tuesday, March 10th. They set a “buy” rating and a $8.50 price objective for the company. Keefe, Bruyette & Woods reduced their target price on UWM from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday. Jefferies Financial Group set a $4.40 target price on UWM in a report on Wednesday, February 25th. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, BTIG Research reissued a “buy” rating and issued a $10.00 price target on shares of UWM in a report on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.24.

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.