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 stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $3.72, for a total transaction of $3,722,135.28. Following the completion of the sale, the chief executive officer directly owned 7,332,727 shares of the company’s stock, valued at $27,277,744.44. This trade represents a 12.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were 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 shares were 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.
• On Wednesday, March 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.91, for a total transaction of $2,474,537.34.
• On Monday, March 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $3.78, for a total transaction of $2,392,263.72.
• On Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.11, for a total value of $2,601,112.14.
• On Tuesday, March 3rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.25, for a total value of $2,689,714.50.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.03, for a total value of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.52, for a total value of $2,860,590.48.

UWM Stock Up 5.1%

Shares of UWMC traded up $0.18 during midday trading on Monday, reaching $3.74. 20,573,447 shares of the stock were exchanged, compared to its average volume of 19,794,490. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 62.37 and a beta of 1.90. 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 12-month low of $3.46 and a 12-month high of $7.14. The firm has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $5.27.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $759.12 million. Research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend is Thursday, March 19th. UWM’s payout ratio is currently 666.67%.

Analyst Upgrades and Downgrades

UWMC has been the topic of a number of recent research reports. Morgan Stanley set a $6.00 price target on shares of UWM in a report on Tuesday, December 16th. Zacks Research downgraded shares of UWM from a “hold” rating to a “strong sell” rating in a research report on Friday, February 27th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Barclays reduced their price target on UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.49.

Institutional Investors Weigh In On UWM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in UWM by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock valued at $243,000 after purchasing an additional 2,329 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of UWM by 4.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock valued at $225,000 after purchasing an additional 2,407 shares during the period. Allworth Financial LP raised its holdings in shares of UWM by 62.5% in the 4th quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock worth $30,000 after buying an additional 2,602 shares in the last quarter. Choreo LLC lifted its position in shares of UWM by 16.1% during the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock worth $84,000 after buying an additional 2,637 shares during the period. Finally, State of Wyoming lifted its position in shares of UWM by 24.9% during the 3rd quarter. State of Wyoming now owns 14,552 shares of the company’s stock worth $89,000 after buying an additional 2,902 shares during the period. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Company Profile

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.