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 that occurred on Friday, April 24th. The shares were sold at an average price of $3.75, for a total value of $3,752,152.50. Following the sale, the chief executive officer directly owned 6,319,525 shares in the company, valued at $23,698,218.75. This trade represents a 13.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.78, for a total value of $3,782,169.72.
• On Wednesday, April 22nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.70, for a total transaction of $3,702,123.80.
• On Monday, April 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.94, for a total transaction of $3,942,261.56.
• 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 stock was 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 shares were 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 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 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 shares were sold at an average price of $3.69, for a total value of $3,692,118.06.

UWM Trading Down 0.9%

Shares of UWMC stock opened at $3.75 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 62.42 and a beta of 1.93. UWM Holdings Corporation has a 12-month low of $3.38 and a 12-month high of $7.14. The stock’s 50-day moving average price is $3.92 and its 200-day moving average price is $4.80.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS 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 firm had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. Equities research analysts predict that UWM Holdings Corporation will post 0.41 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.7%. UWM’s dividend payout ratio (DPR) is 666.67%.

Wall Street Analysts Forecast Growth

Several research firms have commented on UWMC. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays decreased their target price on shares of UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Keefe, Bruyette & Woods dropped their price target 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. Finally, Jefferies Financial Group set a $4.40 price objective on UWM in a research note on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.99.

Institutional Investors Weigh In On UWM

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of UWM by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock worth $83,042,000 after acquiring an additional 1,676,754 shares during the last quarter. Azora Capital LP grew its position in UWM by 230.8% in the 4th 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 stake in UWM in the fourth quarter worth $45,867,000. Balyasny Asset Management L.P. lifted its position 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 purchasing an additional 3,224,806 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in shares of UWM during the third quarter worth $32,630,000. 53.59% of the stock is currently 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.