Ishbia Mat Sells 400,036 Shares of UWM Holdings Corporation (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $4.10, for a total transaction of $1,640,147.60. Following the transaction, the chief executive officer now owns 2,899,856 shares of the company’s stock, valued at approximately $11,889,409.60. The trade was a 12.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.02, for a total transaction of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total transaction of $1,596,143.64.

UWM Stock Performance

NYSE UWMC opened at $4.27 on Wednesday. The company has a fifty day simple moving average of $4.28 and a 200 day simple moving average of $5.33. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $9.74. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87. The company has a market cap of $6.82 billion, a P/E ratio of -32.81 and a beta of 1.70.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. The business had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. Sell-side analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.38%. The ex-dividend date is Wednesday, June 18th. UWM’s payout ratio is currently -307.69%.

Institutional Trading of UWM

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after acquiring an additional 2,958 shares in the last quarter. Signaturefd LLC lifted its stake in UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after acquiring an additional 4,693 shares in the last quarter. Quarry LP bought a new position in UWM during the 1st quarter valued at $53,000. Focus Partners Wealth bought a new position in UWM during the 1st quarter valued at $55,000. Finally, Independent Advisor Alliance bought a new position in UWM during the 1st quarter valued at $58,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Ratings Changes

UWMC has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a report on Wednesday, May 7th. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Wedbush reaffirmed a “neutral” rating and set a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group reduced their price objective on shares of UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, UWM presently has an average rating of “Hold” and an average target price of $6.86.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.