UWM (NYSE:UWMC) CEO Sells $3,692,118.06 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.69, for a total transaction of $3,692,118.06. Following the completion of the transaction, the chief executive officer owned 10,328,135 shares of the company’s stock, valued at $38,110,818.15. This trade represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.73, for a total value of $3,732,141.02.
• On Friday, March 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.49, for a total value of $3,492,003.26.
• On Tuesday, March 31st, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total value of $3,552,037.70.
• On Wednesday, March 25th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total value of $3,552,037.70.
• On Monday, March 23rd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.72, for a total value of $3,722,135.28.
• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.60, for a total value of $3,602,066.40.
• On Wednesday, March 18th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.73, for a total value of $3,732,141.02.
• On Monday, March 16th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.70, for a total value of $3,702,123.80.
• On Friday, March 13th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.69, for a total transaction of $2,335,305.06.
• On Wednesday, March 11th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $3.91, for a total transaction of $2,474,537.34.

UWM Trading Up 0.4%

Shares of UWMC traded up $0.02 during mid-day trading on Monday, reaching $3.74. The company’s stock had a trading volume of 9,496,677 shares, compared to its average volume of 18,970,748. UWM Holdings Corporation has a 52 week low of $3.38 and a 52 week high of $7.14. The stock has a market cap of $5.98 billion, a PE ratio of 62.27 and a beta of 1.93. The company’s fifty day moving average price is $4.35 and its two-hundred day moving average price is $5.06. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64.

UWM (NYSE:UWMC) last released its earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. On average, analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 10.7%. UWM’s payout ratio is currently 666.67%.

Institutional Trading of UWM

A number of hedge funds have recently modified their holdings of UWMC. Allworth Financial LP increased its stake in shares of UWM by 5,681.9% in the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after acquiring an additional 4,091 shares in the last quarter. GAMMA Investing LLC boosted its stake in UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after acquiring an additional 4,344 shares in the last quarter. Raymond James Financial Inc. bought a new stake in UWM during the second quarter worth about $35,000. Farther Finance Advisors LLC grew its holdings in UWM by 1,410.7% in the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after purchasing an additional 8,027 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in UWM in the third quarter worth about $38,000. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UWMC. The Goldman Sachs Group set a $5.00 target price on UWM in a report on Tuesday, January 6th. Jefferies Financial Group set a $4.40 price target on UWM in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Barclays reduced their target price on UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Weiss Ratings lowered shares of UWM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.36.

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.