UWM (NYSE:UWMC) CEO Sells $2,096,986.02 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 449,997 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $4.66, for a total value of $2,096,986.02. Following the completion of the transaction, the chief executive officer owned 2,878,493 shares in the company, valued at approximately $13,413,777.38. The trade was a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 29th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total value of $2,797,303.08.
• On Friday, December 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.57, for a total value of $2,892,234.18.
• On Tuesday, December 23rd, Ishbia Mat sold 402,483 shares of UWM stock. The shares were sold at an average price of $4.70, for a total transaction of $1,891,670.10.
• On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.47, for a total transaction of $3,349,209.89.
• On Wednesday, December 10th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.60, for a total transaction of $3,428,807.20.
• On Monday, December 8th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.67, for a total transaction of $3,471,667.29.
• On Friday, December 5th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.78, for a total transaction of $3,539,018.86.
• On Wednesday, December 3rd, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.71, for a total transaction of $3,496,158.77.
• On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.80, for a total value of $3,551,264.60.
• On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The stock was sold at an average price of $5.85, for a total value of $2,556,877.05.

UWM Price Performance

UWM stock opened at $4.38 on Thursday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The stock has a 50-day simple moving average of $5.31 and a 200-day simple moving average of $5.21.

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

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.1%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UWMC shares. UBS Group increased their price target on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on UWM in a report on Friday, December 19th. They set a “hold” rating and a $5.00 price target on the stock. BTIG Research restated a “buy” rating and issued a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Finally, Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.56.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently added to or reduced their stakes in UWMC. Allworth Financial LP increased its position in UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after purchasing an additional 4,091 shares during the period. GAMMA Investing LLC boosted its stake in shares of UWM by 408.7% in the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after buying an additional 4,344 shares in the last quarter. Raymond James Financial Inc. acquired a new position in UWM during the second quarter worth $35,000. Advisory Services Network LLC purchased a new position in UWM in the third quarter worth $38,000. Finally, R Squared Ltd acquired a new stake in UWM in the second quarter valued at $51,000. 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.