UWM (NYSE:UWMC) CEO Sells $2,601,112.14 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $4.11, for a total transaction of $2,601,112.14. Following the transaction, the chief executive officer owned 6,133,415 shares in the company, valued at approximately $25,208,335.65. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 3rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.25, for a total value of $2,689,714.50.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.03, for a total value 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 shares were sold at an average price of $4.94, for a total transaction of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.66, for a total transaction 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 value 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 value of $3,196,013.70.

UWM Stock Performance

UWMC traded down $0.13 on Thursday, hitting $4.05. The company had a trading volume of 24,255,243 shares, compared to its average volume of 19,346,691. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 67.50 and a beta of 1.90. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52. The company’s fifty day moving average price is $4.96 and its 200 day moving average price is $5.43. UWM Holdings Corporation has a 1-year low of $3.79 and a 1-year high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS 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 the consensus estimate of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. Equities analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal 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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date is Thursday, March 19th. UWM’s dividend payout ratio is 666.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in UWM in the 1st quarter valued at $92,000. Focus Partners Wealth bought a new position in shares of UWM in the first quarter valued at approximately $55,000. Envestnet Asset Management Inc. boosted its holdings in shares of UWM by 437.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,444 shares of the company’s stock worth $503,000 after acquiring an additional 98,837 shares in the last quarter. Teacher Retirement System of Texas grew its position in UWM by 23.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company’s stock worth $99,000 after acquiring an additional 4,552 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in UWM during the 2nd quarter valued at $103,000. 53.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on UWM from $6.75 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 27th. Morgan Stanley set a $6.00 price target on UWM in a report on Tuesday, December 16th. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a research note on Tuesday, January 6th. Jefferies Financial Group set a $4.40 target price on shares of UWM in a research report on Wednesday, February 25th. Finally, UBS Group raised their price target on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.20.

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.