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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $3.94, for a total transaction of $3,942,261.56. Following the sale, the chief executive officer directly owned 10,321,821 shares in the company, valued at approximately $40,667,974.74. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Friday, April 17th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.93, for a total transaction of $3,932,255.82.
• On Wednesday, April 15th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.78, for a total transaction of $3,782,169.72.
• On Monday, April 13th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.66, for a total transaction of $3,662,100.84.
• On Friday, April 10th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.71, for a total transaction of $3,712,129.54.
• On Wednesday, April 8th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were 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 shares were 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 value 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 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.

UWM Stock Performance

Shares of UWMC opened at $3.98 on Tuesday. UWM Holdings Corporation has a 52-week low of $3.38 and a 52-week high of $7.14. The stock’s 50-day simple moving average is $4.02 and its 200 day simple moving average is $4.87. 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 stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 66.25 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 analysts’ consensus estimates 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 analysts’ expectations of $759.12 million. Research analysts forecast that UWM Holdings Corporation will post 0.41 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 10.1%. UWM’s payout ratio is currently 666.67%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Compass Point started coverage on shares of UWM in a research note on Tuesday, March 10th. They issued a “buy” rating and a $8.50 target price on the stock. The Goldman Sachs Group set a $5.00 price target on shares of UWM in a research report on Tuesday, January 6th. Argus raised shares of UWM to a “hold” rating in a report on Tuesday, March 31st. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods reduced their target price on UWM from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, April 10th. Three equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.24.

Hedge Funds Weigh In On UWM

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