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

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

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

• On Monday, March 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were 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 shares were 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 value 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 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.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.94, for a total value 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 value of $2,949,192.84.
• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.61, for a total transaction of $2,917,549.14.

UWM Trading Down 4.5%

Shares of UWMC stock opened at $3.74 on Friday. The firm’s 50-day simple moving average is $4.90 and its 200-day simple moving average is $5.36. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. UWM Holdings Corporation has a 1-year low of $3.64 and a 1-year high of $7.14. The firm has a market cap of $5.98 billion, a P/E ratio of 62.25 and a beta of 1.90.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 0.87% and a negative return on equity of 1.35%. As a group, equities analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio is presently 666.67%.

Wall Street Analysts Forecast Growth

UWMC has been the topic of a number of research analyst reports. BTIG Research reiterated a “buy” rating and issued a $10.00 target price on shares of UWM in a report on Tuesday. Morgan Stanley set a $6.00 price target on UWM in a research note on Tuesday, December 16th. Barclays reduced their price objective on UWM from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Zacks Research cut UWM from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of UWM from $6.75 to $6.00 and set a “market perform” rating for the company 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.49.

Institutional Trading of UWM

Several large investors have recently added to or reduced their stakes in UWMC. Brandes Investment Partners LP acquired a new position in shares of UWM during the fourth quarter worth about $45,867,000. Azora Capital LP raised its holdings in shares of UWM by 230.8% during the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock valued at $49,477,000 after buying an additional 7,881,586 shares during the period. Integrated Investment Consultants LLC purchased a new stake in shares of UWM during the 3rd quarter valued at about $32,630,000. Renaissance Technologies LLC acquired a new position in UWM during the 4th quarter worth approximately $21,580,000. Finally, 683 Capital Management LLC acquired a new position in UWM during the 2nd quarter worth approximately $19,872,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.