UWM (NYSE:UWMC) CEO Sells $3,611,117.04 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 986,644 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $3.66, for a total transaction of $3,611,117.04. Following the completion of the transaction, the chief executive officer owned 4,332,307 shares in the company, valued at $15,856,243.62. This represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 29th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.50, for a total transaction of $3,502,009.00.
• On Monday, April 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.78, for a total transaction of $3,782,169.72.
• On Friday, April 24th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.75, for a total transaction of $3,752,152.50.
• On Wednesday, April 22nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.70, for a total transaction of $3,702,123.80.
• On Monday, April 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.94, for a total transaction of $3,942,261.56.
• On Friday, April 17th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.93, for a total transaction of $3,932,255.82.
• On Wednesday, April 15th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.78, for a total transaction of $3,782,169.72.
• On Monday, April 13th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.66, for a total transaction of $3,662,100.84.
• On Friday, April 10th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.71, for a total transaction of $3,712,129.54.
• On Wednesday, April 8th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.87, for a total transaction of $3,872,221.38.

UWM Price Performance

NYSE UWMC opened at $3.67 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. The firm’s 50 day moving average price is $3.84 and its 200-day moving average price is $4.77. UWM Holdings Corporation has a 52-week low of $3.38 and a 52-week high of $7.14. The company has a market cap of $5.86 billion, a PE ratio of 61.08 and a beta of 1.79.

UWM (NYSE:UWMC) last released its quarterly earnings data 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). 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 the consensus estimate of $759.12 million. Sell-side analysts forecast that UWM Holdings Corporation will post 0.41 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.9%. UWM’s dividend payout ratio (DPR) is currently 666.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. BTIG Research reissued a “buy” rating and set a $10.00 target price on shares of UWM in a research report on Tuesday, March 10th. Jefferies Financial Group set a $4.40 target price on shares of UWM in a research report on Wednesday, February 25th. Stephens started coverage on shares of UWM in a research report on Friday, April 24th. They set an “equal weight” rating and a $4.00 target price for the company. Finally, Weiss Ratings cut shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of UWM by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock worth $83,042,000 after buying an additional 1,676,754 shares during the last quarter. Azora Capital LP raised its holdings in shares of UWM by 230.8% in the fourth 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. Brandes Investment Partners LP purchased a new position in shares of UWM in the fourth quarter worth $45,867,000. Balyasny Asset Management L.P. raised its holdings in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after buying an additional 3,224,806 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new position in shares of UWM in the third quarter worth $32,630,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.