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 dated Wednesday, March 18th. The shares were sold at an average price of $3.73, for a total value of $3,732,141.02. Following the completion of the transaction, the chief executive officer directly owned 10,334,449 shares in the company, valued at $38,547,494.77. This represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, March 16th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.70, for a total value of $3,702,123.80.
• On Friday, March 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was 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 shares were sold at an average price of $4.11, for a total transaction 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 transaction of $2,689,714.50.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was 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 shares were sold at an average price of $4.52, for a total value of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were 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 stock was sold at an average price of $4.88, for a total value of $3,088,425.12.

UWM Stock Performance

UWMC stock traded up $0.03 during trading on Wednesday, hitting $3.69. 17,479,237 shares of the company traded hands, compared to its average volume of 19,504,248. The stock’s 50-day simple moving average is $4.85 and its 200 day simple moving average is $5.31. 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 cap of $5.90 billion, a PE ratio of 61.42 and a beta of 1.90. UWM Holdings Corporation has a 1 year low of $3.59 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 the consensus estimate of $0.09 by ($0.01). The company had revenue of $945.25 million during the quarter, compared to analysts’ expectations of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. On average, equities analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 10.9%. UWM’s dividend payout ratio is 666.67%.

Institutional Trading of UWM

Several institutional investors have recently modified their holdings of UWMC. Brandes Investment Partners LP purchased a new stake in shares of UWM during the fourth quarter worth about $45,867,000. Azora Capital LP boosted its holdings in UWM by 230.8% in the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after buying an additional 7,881,586 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in UWM during the 3rd quarter worth approximately $32,630,000. Renaissance Technologies LLC purchased a new stake in UWM during the 4th quarter worth approximately $21,580,000. Finally, 683 Capital Management LLC acquired a new position in shares of UWM during the second quarter valued at approximately $19,872,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UWMC. Morgan Stanley set a $6.00 price objective on shares of UWM in a research report on Tuesday, December 16th. Compass Point began coverage on UWM in a research report on Tuesday, March 10th. They set a “buy” rating and a $8.50 target price on the stock. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research cut UWM from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. Finally, Keefe, Bruyette & Woods lowered their price target on UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, UWM has an average rating of “Hold” and an average price target 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.