UWM (NYSE:UWMC) CEO Ishbia Mat Sells 1,003,333 Shares

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,003,333 shares of UWM stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $3.57, for a total transaction of $3,581,898.81. Following the completion of the transaction, the chief executive officer owned 3,999,087 shares in the company, valued at approximately $14,276,740.59. This trade represents a 20.06% decrease in their position. The transaction was disclosed in a legal filing 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 Friday, May 1st, Ishbia Mat sold 1,001,024 shares of UWM stock. The stock was sold at an average price of $3.62, for a total transaction of $3,623,706.88.
• On Thursday, April 30th, Ishbia Mat sold 934,061 shares of UWM stock. The stock was sold at an average price of $3.53, for a total transaction of $3,297,235.33.
• On Wednesday, April 29th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.50, for a total transaction of $3,502,009.00.
• On Tuesday, April 28th, Ishbia Mat sold 986,644 shares of UWM stock. The stock was sold at an average price of $3.66, for a total transaction of $3,611,117.04.
• 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 transaction of $3,782,169.72.
• On Friday, April 24th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.75, for a total transaction of $3,752,152.50.
• On Wednesday, April 22nd, 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 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.

UWM Trading Down 3.0%

NYSE UWMC traded down $0.11 on Monday, hitting $3.55. 11,275,529 shares of the stock were exchanged, compared to its average volume of 17,241,156. UWM Holdings Corporation has a 52-week low of $3.38 and a 52-week high of $7.14. 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 company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 59.18 and a beta of 1.78. The company’s 50-day moving average price is $3.84 and its two-hundred day moving average price is $4.77.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The firm had revenue of $945.25 million for the quarter, compared to analysts’ expectations of $759.12 million. Research analysts predict that UWM Holdings Corporation will post 0.41 EPS for the current year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 11.3%. The ex-dividend date was Thursday, March 19th. UWM’s payout ratio is presently 666.67%.

Institutional Investors Weigh In On UWM

Several institutional investors and hedge funds have recently modified their holdings of UWMC. Dynamic Technology Lab Private Ltd acquired a new stake in shares of UWM in the 1st quarter valued at $92,000. Focus Partners Wealth acquired a new stake in shares of UWM in the 1st quarter valued at $55,000. Cetera Investment Advisers lifted its stake in shares of UWM by 20.5% in the 2nd quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock valued at $468,000 after purchasing an additional 19,239 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of UWM by 65.9% in the 2nd quarter. Legal & General Group Plc now owns 180,164 shares of the company’s stock valued at $746,000 after purchasing an additional 71,555 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of UWM by 18.5% in the 2nd quarter. Rhumbline Advisers now owns 115,501 shares of the company’s stock valued at $478,000 after purchasing an additional 18,034 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on UWMC. BTIG Research reissued a “buy” rating and set a $10.00 target price on shares of UWM in a research note on Tuesday, March 10th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods decreased their target price on shares of UWM from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, April 10th. Argus raised shares of UWM to a “hold” rating in a research note on Tuesday, March 31st. Finally, Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, UWM currently has an average rating of “Hold” and an average target price of $5.99.

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.