Ishbia Mat Sells Over 600,000 Shares of UWM Stock in December

UWM Holdings Corporation (NYSE: UWMC) experienced significant insider trading activity as CEO Ishbia Mat sold 632,874 shares of the company’s stock on December 31, 2023. The shares were sold at an average price of $4.37, bringing the total transaction value to $2,765,659.38. Following this sale, Mat’s remaining holdings in the company totaled 346,997 shares, valued at approximately $1,516,376.89, reflecting a substantial decrease of 64.59% in his ownership stake.

This transaction was disclosed in a filing with the Securities and Exchange Commission, which is accessible to the public through the SEC’s website. The CEO’s trading activity did not stop there; he made several additional trades in December, including:

– On **January 2, 2024**, another sale of 632,874 shares at an average price of $4.42 for a total of $2,797,303.08.
– On **December 29, 2023**, he sold 632,874 shares for $2,797,303.08 at the same average price of $4.42.
– Earlier, on **December 26, 2023**, he sold a similar number of shares at an average price of $4.57, totaling $2,892,234.18.
– Additional sales were recorded on **December 24**, **December 23**, **December 12**, **December 10**, and **December 8**, with average prices ranging from $4.66 to $5.78.

UWM stock saw a slight increase of 0.8% during midday trading on January 5, 2024, with shares reaching $4.42. The trading volume for the day was reported at 8,901,933 shares, compared to an average volume of 11,526,103 shares. Over the past year, UWM Holdings has experienced a low of $3.80 and a high of $7.14.

Dividend Announcement and Analyst Ratings

UWM Holdings has also announced a quarterly dividend of $0.10 per share, scheduled for payment on **January 8, 2024**. Investors of record as of **December 18, 2023**, will receive this payment, which represents an annualized dividend yield of 9.1%.

Wall Street analysts have issued mixed ratings on UWM stock recently. According to reports, Wall Street Zen downgraded UWM from a “hold” rating to a “strong sell” on **November 15, 2023**. Conversely, Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on **October 7, 2023**.

Analysts from Morgan Stanley set a price objective of $6.00, while Barclays increased its target from $6.00 to $7.00, maintaining an “overweight” rating. Meanwhile, UBS Group raised its price target from $5.50 to $6.00, with a “neutral” rating. The consensus among analysts indicates an average rating of “Hold” and a price target of $6.56.

Institutional Investment Activity

Recent institutional investment activities highlight ongoing interest in UWM. Invesco Ltd. increased its stake in UWM by 19.0% in the first quarter, now owning 130,400 shares valued at approximately $712,000. Russell Investments Group Ltd. raised its position by an impressive 769.3%, owning 13,413 shares worth around $73,000 after recent purchases.

Other institutional investors, including State of Wyoming and Vident Advisory LLC, have also made significant adjustments to their holdings. As of now, institutional investors collectively own 53.59% of UWM’s stock.

UWM Holdings Corporation stands as a prominent player in the mortgage lending sector, focusing on the wholesale channel. The company collaborates with independent mortgage brokers, community banks, and credit unions to provide a comprehensive range of residential mortgage products, underlining its pivotal role in the U.S. mortgage landscape.