UWM (NYSE:UWMC) CEO Ishbia Mat Sells 632,874 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.87, for a total value of $3,714,970.38. Following the transaction, the chief executive officer directly owned 4,686,761 shares in the company, valued at approximately $27,511,287.07. This represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, January 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.75, for a total transaction of $3,639,025.50.
• On Tuesday, January 20th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.82, for a total transaction of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $6.04, for a total transaction of $3,822,558.96.
• On Wednesday, January 14th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.46, for a total transaction of $3,455,492.04.
• On Monday, January 12th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.35, for a total transaction of $3,385,875.90.
• On Friday, January 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.27, for a total transaction of $3,335,245.98.
• On Wednesday, January 7th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.70, for a total transaction of $2,974,507.80.
• On Monday, January 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.43, for a total value of $2,803,631.82.
• On Friday, January 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.42, for a total value of $2,797,303.08.
• On Wednesday, December 31st, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.37, for a total value of $2,765,659.38.

UWM Stock Down 0.4%

Shares of UWM stock opened at $5.77 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.14. The business’s 50 day simple moving average is $5.24 and its two-hundred day simple moving average is $5.37.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The company had revenue of $151.14 million for the quarter, compared to analysts’ expectations of $651.51 million. Analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Thursday, December 18th.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of analyst reports. Barclays increased their target price on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. The Goldman Sachs Group set a $5.00 target price on UWM in a research note on Tuesday, January 6th. Wall Street Zen downgraded UWM from a “hold” rating to a “strong sell” rating in a report on Saturday, November 15th. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, UBS Group upped their price objective on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and an average target price of $6.53.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. Choreo LLC increased its stake in shares of UWM by 16.1% in the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock worth $84,000 after acquiring an additional 2,637 shares in the last quarter. State of Wyoming increased its stake in shares of UWM by 24.9% during the third quarter. State of Wyoming now owns 14,552 shares of the company’s stock valued at $89,000 after purchasing an additional 2,902 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of UWM by 8.1% during the third quarter. Arizona State Retirement System now owns 50,661 shares of the company’s stock valued at $309,000 after purchasing an additional 3,785 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of UWM by 5,681.9% during the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after purchasing an additional 4,091 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after purchasing an additional 4,344 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.