UWM (NYSE:UWMC) CEO Sells $3,942,261.56 in Stock

Key Points

• UWM CEO Ishbia Mat sold 1,000,574 shares on April 20 at an average $3.94 for $3.94M under a pre-arranged Rule 10b5-1 plan, leaving him with 10,321,821 shares (an 8.84% ownership decline).
• The April 20 sale is part of a sequence of 11 nearly identical block sales (one million-plus shares each) over late March–April, totaling about 11.0 million shares sold during the period.
• UWM shares trade around $3.98 with a market cap of $6.36B and a P/E of 66.25, and the company pays a $0.10 quarterly dividend (10.1% yield) but with a very high payout ratio of 666.67%, suggesting the dividend may be unsustainably funded.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 1,000,574 shares of the business's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $3.94, for a total value of $3,942,261.56. Following the transaction, the chief executive officer owned 10,321,821 shares of the company's stock, valued at approximately $40,667,974.74. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 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 transaction of $3,932,255.82.
• On Wednesday, April 15th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.78, for a total transaction 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 transaction 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.
• On Monday, April 6th, 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 Thursday, April 2nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.69, for a total value of $3,692,118.06.
• On Friday, March 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was 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 shares were sold at an average price of $3.55, for a total transaction of $3,552,037.70.

UWM Price Performance

Shares of UWM stock traded up $0.06 on Monday, hitting $3.98. 11,460,335 shares of the company traded hands, compared to its average volume of 18,066,492. UWM Holdings Corporation has a 52 week low of $3.38 and a 52 week high of $7.14. The business has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $4.88. 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 stock has a market capitalization of $6.36 billion, a P/E ratio of 66.25 and a beta of 1.93.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. Research analysts expect that UWM Holdings Corporation will post 0.41 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend was Thursday, March 19th. UWM's dividend payout ratio is 666.67%.

Hedge Funds Weigh In On UWM

Large investors have recently modified their holdings of the stock. Allworth Financial LP lifted its position in UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company's stock worth $25,000 after buying an additional 4,091 shares during the last quarter. GAMMA Investing LLC increased its position in UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock valued at $33,000 after acquiring an additional 4,344 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of UWM in the third quarter valued at $38,000. Raymond James Financial Inc. purchased a new stake in shares of UWM in the second quarter valued at $35,000. Finally, Farther Finance Advisors LLC lifted its holdings 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 acquiring an additional 8,027 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on UWMC. Keefe, Bruyette & Woods reduced their target price on UWM from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Friday, April 10th. Weiss Ratings cut UWM from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 27th. BTIG Research reaffirmed a "buy" rating and issued a $10.00 price objective on shares of UWM in a research note on Tuesday, March 10th. Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Finally, Jefferies Financial Group set a $4.40 target price on UWM in a research report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.24.

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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