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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $3.91, for a total value of $2,474,537.34. Following the sale, the chief executive officer directly owned 3,601,919 shares of the company’s stock, valued at $14,083,503.29. The trade was a 14.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 value 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 stock was sold at an average price of $4.25, for a total transaction 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 transaction of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.52, for a total transaction of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.77, for a total value of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.88, for a total value of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.94, for a total transaction of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.66, for a total transaction of $2,949,192.84.
• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.61, for a total transaction of $2,917,549.14.

UWM Stock Down 3.3%

UWM stock opened at $3.91 on Thursday. The stock has a market cap of $6.25 billion, a PE ratio of 65.08 and a beta of 1.90. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The stock’s fifty day moving average is $4.91 and its two-hundred day moving average is $5.37. UWM Holdings Corporation has a 1-year low of $3.64 and a 1-year high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $945.25 million during 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%. On average, sell-side analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Thursday, March 19th. UWM’s dividend payout ratio is presently 666.67%.

Hedge Funds Weigh In On UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. Allworth Financial LP raised its stake in 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 buying an additional 4,091 shares in the last quarter. GAMMA Investing LLC grew its stake in UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after buying an additional 4,344 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in UWM in the second quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in UWM by 1,410.7% in the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after buying an additional 8,027 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of UWM during the third quarter valued at $38,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on UWMC shares. Morgan Stanley set a $6.00 price target on UWM in a research report on Tuesday, December 16th. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. BTIG Research reissued a “buy” rating and issued a $10.00 price target on shares of UWM in a report on Tuesday. Keefe, Bruyette & Woods cut their price objective on UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings upgraded shares of UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.49.

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.