Ishbia Mat Sells 1,000,574 Shares of UWM (NYSE:UWMC) Stock

Key Points

• UWM CEO Ishbia Mat sold roughly 9.54 million shares across multiple March transactions for about $35.2 million, cutting his direct holding by 23.1% to 3,330,431 shares.
• The firm declared a $0.10 quarterly dividend (annualized yield ~10.8%) with an ex-dividend date of March 19, though the payout ratio is an unsustainably high 666.67%.
• UWM reported quarterly EPS of $0.08 (missed estimates by $0.01) while revenue beat at $945.25 million; analysts maintain an average "Hold" rating with a consensus price target of $6.49 and the stock trading near $3.70.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 1,000,574 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $3.49, for a total transaction of $3,492,003.26. Following the transaction, the chief executive officer directly owned 3,330,431 shares of the company's stock, valued at $11,623,204.19. This represents a 23.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were 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 stock was sold at an average price of $3.69, for a total value 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.
• On Monday, March 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.78, for a total transaction of $2,392,263.72.
• 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.

UWM Stock Up 1.7%

Shares of NYSE UWMC traded up $0.06 during midday trading on Thursday, hitting $3.70. The stock had a trading volume of 1,310,827 shares, compared to its average volume of 18,973,230. The business's 50 day moving average is $4.43 and its 200-day moving average is $5.11. UWM Holdings Corporation has a 52 week low of $3.38 and a 52 week high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. The company has a market cap of $5.92 billion, a P/E ratio of 61.58 and a beta of 1.92.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm 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%. As a group, analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 10.8%. UWM's payout ratio is currently 666.67%.

Analysts Set New Price Targets

UWMC has been the topic of several recent analyst reports. The Goldman Sachs Group set a $5.00 price objective on UWM in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lowered their target price on shares of UWM from $6.75 to $6.00 and set a "market perform" rating on the stock in a research note on Friday, February 27th. Barclays dropped their price target on shares of UWM from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Zacks Research upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Argus raised shares of UWM to a "hold" rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.49.

Institutional Trading of UWM

Several large investors have recently modified their holdings of the company. Allworth Financial LP increased its position in UWM by 5,681.9% during the third quarter. Allworth Financial LP now owns 4,163 shares of the company's stock valued at $25,000 after acquiring an additional 4,091 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock valued at $33,000 after purchasing an additional 4,344 shares during the period. Advisory Services Network LLC purchased a new stake in shares of UWM during the 3rd quarter valued at about $38,000. Raymond James Financial Inc. purchased a new stake in shares of UWM during the 2nd quarter valued at about $35,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of UWM by 1,410.7% in the 4th 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. Institutional investors own 53.59% of the company's stock.

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.

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