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 UWM stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $3.70, for a total transaction of $3,702,123.80. Following the completion of the transaction, the chief executive officer directly owned 8,320,673 shares in the company, valued at $30,786,490.10. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was 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 stock was 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 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 stock was 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 stock was 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 transaction of $3,552,037.70.

UWM Price Performance

NYSE UWMC opened at $3.68 on Thursday. The firm’s fifty day simple moving average is $3.98 and its two-hundred day simple moving average is $4.84. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. UWM Holdings Corporation has a 12-month low of $3.38 and a 12-month high of $7.14. The firm has a market capitalization of $5.88 billion, a P/E ratio of 61.25 and a beta of 1.93.

UWM (NYSE:UWMC) last announced its quarterly earnings data 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). The company had revenue of $945.25 million for the quarter, compared to analysts’ expectations of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. Analysts forecast that UWM Holdings Corporation will post 0.41 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th were issued a dividend of $0.10 per share. 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 10.9%. UWM’s payout ratio is 666.67%.

Institutional Investors Weigh In On UWM

Several hedge funds have recently added to or reduced their stakes in UWMC. Brandes Investment Partners LP purchased a new stake in UWM in the fourth quarter valued at $45,867,000. Azora Capital LP boosted its holdings in UWM by 230.8% in the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock valued at $49,477,000 after purchasing an additional 7,881,586 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in UWM in the third quarter valued at $32,630,000. Renaissance Technologies LLC purchased a new stake in UWM in the fourth quarter valued at $21,580,000. Finally, First Trust Advisors LP purchased a new stake in UWM in the fourth quarter valued at $19,303,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UWMC. Weiss Ratings lowered shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a report on Tuesday, January 6th. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of UWM in a report on Tuesday, March 10th. Three 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. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and a consensus target price of $6.24.

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.