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 UWM stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $3.50, for a total transaction of $3,502,009.00. Following the completion of the transaction, the chief executive officer directly owned 3,331,733 shares in the company, valued at $11,661,065.50. This represents a 23.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Tuesday, April 28th, Ishbia Mat sold 986,644 shares of UWM stock. The shares were sold at an average price of $3.66, for a total transaction of $3,611,117.04.
• On Monday, April 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $3.87, for a total transaction of $3,872,221.38.

UWM Trading Down 5.3%

Shares of UWM stock opened at $3.46 on Thursday. The firm has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $4.78. The company has a market cap of $5.53 billion, a P/E ratio of 57.60 and a beta of 1.93. UWM Holdings Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $945.25 million during the quarter, compared to analyst estimates of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. As a group, equities analysts predict that UWM Holdings Corporation will post 0.41 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th were given a $0.10 dividend. The ex-dividend date was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 11.6%. UWM’s dividend payout ratio is 666.67%.

Institutional Trading of UWM

Several hedge funds have recently made changes to their positions in UWMC. Brandes Investment Partners LP purchased a new stake in shares of UWM in the 4th quarter valued at approximately $45,867,000. Azora Capital LP grew its stake in shares of UWM by 230.8% in the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock valued at $49,477,000 after buying an additional 7,881,586 shares during the period. Integrated Investment Consultants LLC purchased a new stake in shares of UWM in the 3rd quarter valued at approximately $32,630,000. Renaissance Technologies LLC purchased a new stake in shares of UWM in the 4th quarter valued at approximately $21,580,000. Finally, First Trust Advisors LP purchased a new stake in shares of UWM in the 4th quarter valued at approximately $19,303,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on UWMC. Stephens began coverage on shares of UWM in a research report on Friday, April 24th. They issued an “equal weight” rating and a $4.00 price objective for the company. Keefe, Bruyette & Woods reduced their price target on shares of UWM from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, April 10th. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. BTIG Research restated a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Tuesday, March 10th. Finally, The Goldman Sachs Group set a $5.00 price target on shares of UWM in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.99.

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.