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

Key Points

• Ishbia Mat executed a pre-arranged Rule 10b5-1 plan and sold roughly 10.99 million UWM shares across April (including 1,000,574 shares on April 29 at $3.50, ≈$3.5M), leaving him with 3,331,733 shares.
• UWM shares traded near $3.46 with heavy volume, and the company recently paid a quarterly dividend of $0.10 (annualized yield ~11.6%) despite a very high dividend payout ratio of 666.67%.
• Analyst coverage is mixed but averages to a "Hold" rating with an average price target of $5.99, while institutional ownership stands at about 53.6%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $3.50, for a total value of $3,502,009.00. Following the sale, the chief executive officer directly owned 3,331,733 shares of the company's stock, valued at $11,661,065.50. This trade represents a 23.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $3.66, for a total value of $3,611,117.04.
• On Monday, April 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.78, for a total value of $3,782,169.72.
• On Friday, April 24th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.75, for a total value of $3,752,152.50.
• On Wednesday, April 22nd, 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 Monday, April 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.94, for a total value of $3,942,261.56.
• On Friday, April 17th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.93, for a total value 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 value 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 value 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 value 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 value of $3,872,221.38.

UWM Stock Performance

Shares of UWM stock traded down $0.19 on Wednesday, reaching $3.46. 12,300,396 shares of the stock were exchanged, compared to its average volume of 17,461,689. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. UWM Holdings Corporation has a twelve month low of $3.38 and a twelve month high of $7.14. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 57.60 and a beta of 1.93. The business has a 50 day moving average price of $3.89 and a two-hundred day moving average price of $4.79.

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 company had revenue of $945.25 million for the quarter, compared to analysts' expectations of $759.12 million. UWM had a net margin of 0.87% and a negative return on equity of 1.35%. Analysts anticipate that UWM Holdings Corporation will post 0.41 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 11.6%. The ex-dividend date was Thursday, March 19th. UWM's dividend payout ratio (DPR) is currently 666.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on UWMC shares. Argus raised shares of UWM to a "hold" rating in a report on Tuesday, March 31st. Zacks Research upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, February 28th. Weiss Ratings cut UWM from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 27th. Finally, Compass Point began coverage on UWM in a research note on Tuesday, March 10th. They issued a "buy" rating and a $8.50 price target for the company. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, UWM currently has an average rating of "Hold" and an average price target of $5.99.

Institutional Trading of UWM

A number of institutional investors and 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 fourth quarter valued at approximately $45,867,000. Azora Capital LP increased its position in shares of UWM by 230.8% in the fourth 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 in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of UWM in the third quarter valued at approximately $32,630,000. Renaissance Technologies LLC purchased a new stake in shares of UWM in the fourth quarter valued at approximately $21,580,000. Finally, First Trust Advisors LP purchased a new stake in shares of UWM in the fourth quarter valued at approximately $19,303,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

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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