UWM (NYSE:UWMC) CEO Sells $2,797,303.08 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $4.42, for a total value of $2,797,303.08. Following the completion of the transaction, the chief executive officer owned 1,612,745 shares of the company’s stock, valued at approximately $7,128,332.90. This represents a 28.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, December 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.57, for a total value of $2,892,234.18.
• On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The shares were sold at an average price of $4.66, for a total value of $2,096,986.02.
• On Tuesday, December 23rd, Ishbia Mat sold 402,483 shares of UWM stock. The shares were sold at an average price of $4.70, for a total value of $1,891,670.10.
• On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.47, for a total value of $3,349,209.89.
• On Wednesday, December 10th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.60, for a total transaction of $3,428,807.20.
• On Monday, December 8th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.67, for a total transaction of $3,471,667.29.
• On Friday, December 5th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.78, for a total transaction of $3,539,018.86.
• On Wednesday, December 3rd, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.71, for a total transaction of $3,496,158.77.
• On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.80, for a total transaction of $3,551,264.60.
• On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The stock was sold at an average price of $5.85, for a total transaction of $2,556,877.05.

UWM Trading Down 4.2%

Shares of UWMC traded down $0.20 during mid-day trading on Monday, reaching $4.40. 11,904,766 shares of the company’s stock traded hands, compared to its average volume of 7,267,450. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. The stock’s 50-day moving average is $5.39 and its two-hundred day moving average is $5.22. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.14.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. UWM had a negative return on equity of 6.81% and a net margin of 0.61%. On average, equities analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in UWM by 6.2% during the third 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 during the last quarter. Balyasny Asset Management L.P. increased its position in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of UWM during the 3rd quarter valued at $32,630,000. Bank of America Corp DE lifted its holdings in shares of UWM by 40.5% during the 3rd quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock valued at $32,152,000 after purchasing an additional 1,520,923 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UWMC. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Morgan Stanley set a $6.00 price target on UWM in a report on Tuesday, December 16th. UBS Group raised their price objective on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Jefferies Financial Group assumed coverage on UWM in a report on Friday, December 19th. They issued a “hold” rating and a $5.00 target price for the company. Finally, BTIG Research restated a “buy” rating and set a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, UWM presently has a consensus rating of “Hold” and a consensus price target of $6.56.

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.