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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $4.25, for a total transaction of $2,689,714.50. Following the completion of the sale, the chief executive officer owned 7,399,163 shares in the company, valued at $31,446,442.75. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.11, for a total transaction of $2,601,112.14.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.03, for a total transaction of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.52, for a total value of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.77, for a total value of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.88, for a total value of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.94, for a total value of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.66, for a total value of $2,949,192.84.
• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.61, for a total value of $2,917,549.14.
• On Friday, February 6th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.84, for a total transaction of $3,063,110.16.
• On Wednesday, February 4th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.05, for a total transaction of $3,196,013.70.

UWM Stock Performance

UWMC stock traded down $0.18 during trading on Friday, reaching $3.85. The company had a trading volume of 2,550,634 shares, compared to its average volume of 18,944,068. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 64.17 and a beta of 1.90. UWM Holdings Corporation has a twelve month low of $3.79 and a twelve month 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. The firm has a 50-day simple moving average of $4.95 and a 200-day simple moving average of $5.42.

UWM (NYSE:UWMC) last posted its quarterly earnings results 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). The company had revenue of $945.25 million during the quarter, compared to analysts’ expectations of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. As a group, sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 10.4%. UWM’s payout ratio is currently 666.67%.

Institutional Investors Weigh In On UWM

Several hedge funds have recently bought and sold shares of UWMC. Caitong International Asset Management Co. Ltd increased its holdings in shares of UWM by 1,570.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,191 shares of the company’s stock valued at $53,000 after purchasing an additional 11,461 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in UWM during the fourth quarter valued at $47,000. Virtu Financial LLC purchased a new position in UWM in the fourth quarter valued at $1,799,000. Invesco Ltd. increased its holdings in UWM by 504.1% in the fourth quarter. Invesco Ltd. now owns 1,498,979 shares of the company’s stock valued at $6,566,000 after buying an additional 1,250,845 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of UWM by 258.0% in the fourth quarter. Corient Private Wealth LLC now owns 103,471 shares of the company’s stock worth $453,000 after acquiring an additional 74,565 shares during the period. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UWMC shares. UBS Group raised their price objective 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 set a $4.40 price target on shares of UWM in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a research note on Tuesday, January 6th. Zacks Research lowered shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, UWM has a consensus rating of “Hold” and a consensus price target of $6.20.

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.