Ishbia Mat Sells 402,483 Shares of UWM (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 402,483 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $4.70, for a total transaction of $1,891,670.10. Following the transaction, the chief executive officer owned 3,328,490 shares of the company’s stock, valued at approximately $15,643,903. This represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, December 29th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total transaction of $2,797,303.08.
• 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 transaction of $2,892,234.18.
• On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The stock was sold at an average price of $4.66, for a total value of $2,096,986.02.
• On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was 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 stock was sold at an average price of $5.67, for a total value of $3,471,667.29.
• On Friday, December 5th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.78, for a total value of $3,539,018.86.
• On Wednesday, December 3rd, Ishbia Mat sold 612,287 shares of UWM stock. The shares were 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 shares were 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 Price Performance

Shares of NYSE:UWMC traded down $0.20 during midday trading on Monday, reaching $4.40. The company had a trading volume of 11,904,766 shares, compared to its average volume of 7,267,450. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.14. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45. The business’s 50 day moving average price is $5.39 and its 200 day moving average price is $5.22.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $151.14 million for the quarter, compared to analyst estimates of $651.51 million. UWM had a net margin of 0.61% and a negative return on equity of 6.81%. On average, equities research analysts predict 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, January 8th. Stockholders of record on Thursday, December 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Thursday, December 18th.

Hedge Funds Weigh In On UWM

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of UWM by 19.0% during the 1st quarter. Invesco Ltd. now owns 130,400 shares of the company’s stock worth $712,000 after acquiring an additional 20,816 shares during the period. Nuveen LLC bought a new stake in UWM during the first quarter worth $1,191,000. Russell Investments Group Ltd. boosted its holdings in shares of UWM by 769.3% in the 1st quarter. Russell Investments Group Ltd. now owns 13,413 shares of the company’s stock valued at $73,000 after purchasing an additional 11,870 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of UWM by 435.8% in the 1st quarter. Ieq Capital LLC now owns 207,246 shares of the company’s stock valued at $1,132,000 after purchasing an additional 168,567 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of UWM in the 1st quarter valued at $152,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UWMC. UBS Group lifted their target price on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Jefferies Financial Group initiated coverage on shares of UWM in a research report on Friday, December 19th. They set a “hold” rating and a $5.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a report on Thursday, December 18th. Morgan Stanley set a $6.00 target price on shares of UWM in a research note on Tuesday, December 16th. 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 investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.