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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the business’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $5.89, for a total value of $3,727,627.86. Following the transaction, the chief executive officer directly owned 2,155,265 shares in the company, valued at $12,694,510.85. This trade represents a 22.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.75, for a total transaction of $3,639,025.50.
• On Thursday, January 22nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.87, for a total value of $3,714,970.38.
• On Tuesday, January 20th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.82, for a total transaction of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $6.04, for a total value of $3,822,558.96.
• On Wednesday, January 14th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.46, for a total transaction of $3,455,492.04.
• On Monday, January 12th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.35, for a total value of $3,385,875.90.
• On Friday, January 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.27, for a total transaction of $3,335,245.98.
• On Wednesday, January 7th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.70, for a total value of $2,974,507.80.
• On Monday, January 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.43, for a total transaction of $2,803,631.82.
• On Friday, January 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.42, for a total value of $2,797,303.08.

UWM Trading Up 0.6%

Shares of UWM stock opened at $5.90 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.45 and a current ratio of 1.45. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.14. The firm has a fifty day moving average of $5.27 and a two-hundred day moving average of $5.38.

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

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Thursday, December 18th.

Hedge Funds Weigh In On UWM

Several hedge funds have recently made changes to their positions in UWMC. Vanguard Group Inc. lifted its position in shares of UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after acquiring an additional 1,010,907 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of UWM in the 3rd quarter valued at $32,630,000. Bank of America Corp DE lifted its position in shares of UWM by 40.5% in the third quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock worth $32,152,000 after buying an additional 1,520,923 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in UWM by 165.5% in the 3rd quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock worth $30,382,000 after purchasing an additional 3,109,591 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on UWMC. Keefe, Bruyette & Woods raised their target price on shares of UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Morgan Stanley set a $6.00 price objective on shares of UWM in a research note on Tuesday, December 16th. The Goldman Sachs Group set a $5.00 target price on UWM in a research report on Tuesday, January 6th. Finally, Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.53.

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.