Ishbia Mat Sells 596,356 Shares of UWM (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction on Monday, September 15th. The stock was sold at an average price of $6.84, for a total transaction of $4,079,075.04. Following the transaction, the chief executive officer directly owned 7,301,428 shares of the company’s stock, valued at $49,941,767.52. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The stock was sold at an average price of $6.88, for a total transaction of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.77, for a total transaction of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.44, for a total transaction of $2,576,231.84.
• On Thursday, September 4th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.81, for a total transaction of $2,324,209.16.
• On Tuesday, September 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.59, for a total transaction of $2,236,201.24.
• On Friday, August 29th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.70, for a total transaction of $2,280,205.20.
• On Wednesday, August 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.68, for a total transaction of $2,272,204.48.
• On Monday, August 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.73, for a total transaction of $2,292,206.28.
• On Friday, August 22nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.78, for a total transaction of $2,312,208.08.
• On Wednesday, August 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.60, for a total transaction of $2,240,201.60.

UWM Trading Down 1.6%

UWMC opened at $6.64 on Wednesday. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $9.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a market cap of $10.62 billion, a P/E ratio of -132.80 and a beta of 1.76. The company has a fifty day moving average price of $5.13 and a two-hundred day moving average price of $4.87.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The firm had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. Analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Thursday, September 18th. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of analyst reports. Barclays upgraded shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. The Goldman Sachs Group cut their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.54.

Institutional Trading of UWM

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after purchasing an additional 2,958 shares during the period. Signaturefd LLC raised its position in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after purchasing an additional 4,693 shares during the period. Raymond James Financial Inc. bought a new stake in shares of UWM in the second quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of UWM in the first quarter valued at approximately $53,000. Finally, Focus Partners Wealth bought a new stake in UWM during the 1st quarter worth approximately $55,000. Institutional investors own 53.59% of the company’s stock.

UWM Company Profile

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.