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 that occurred on Thursday, April 2nd. The shares were sold at an average price of $3.69, for a total transaction of $3,692,118.06. Following the transaction, the chief executive officer directly owned 10,328,135 shares of the company’s stock, valued at $38,110,818.15. This represents a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.73, for a total transaction of $3,732,141.02.
• On Friday, March 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.49, for a total value of $3,492,003.26.
• On Tuesday, March 31st, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.55, for a total value of $3,552,037.70.
• On Wednesday, March 25th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total value of $3,552,037.70.
• On Monday, March 23rd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.72, for a total value of $3,722,135.28.
• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.60, for a total value of $3,602,066.40.
• On Wednesday, March 18th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.73, for a total value of $3,732,141.02.
• 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 shares were 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 stock was sold at an average price of $3.91, for a total transaction of $2,474,537.34.

UWM Stock Performance

Shares of UWMC traded up $0.02 during trading hours on Monday, hitting $3.74. The company’s stock had a trading volume of 9,496,677 shares, compared to its average volume of 18,970,748. The business has a 50 day simple moving average of $4.35 and a two-hundred day simple moving average of $5.06. 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 cap of $5.98 billion, a price-to-earnings ratio of 62.27 and a beta of 1.93.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The business had revenue of $945.25 million for the quarter, compared to analysts’ expectations of $759.12 million. 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 business also recently disclosed 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 10.7%. UWM’s dividend payout ratio is 666.67%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UWMC. Weiss Ratings lowered UWM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Jefferies Financial Group set a $4.40 price objective on shares of UWM in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a research note on Tuesday, January 6th. Finally, Argus raised shares of UWM to a “hold” rating in a report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.36.

Institutional Trading of UWM

A number of large investors have recently modified their holdings of UWMC. Allworth Financial LP grew its holdings in shares of UWM by 5,681.9% during the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after purchasing an additional 4,091 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 4,344 shares in the last quarter. Advisory Services Network LLC bought a new stake in UWM during the third quarter valued at approximately $38,000. Raymond James Financial Inc. bought a new stake in UWM during the second quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC grew its stake in UWM by 1,410.7% in the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after buying an additional 8,027 shares in the last quarter. 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.