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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $6.45, for a total transaction of $3,846,496.20. Following the completion of the transaction, the chief executive officer directly owned 4,916,004 shares of the company’s stock, valued at $31,708,225.80. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total transaction of $3,715,297.88.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.81, for a total transaction of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.84, for a total transaction of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The shares were 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 shares were 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 shares were 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 shares were 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.

UWM Stock Performance

UWMC opened at $6.40 on Wednesday. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $8.73. 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 firm has a market capitalization of $10.23 billion, a PE ratio of -127.92 and a beta of 1.76. The firm has a 50 day moving average of $5.36 and a two-hundred day moving average of $4.88.

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

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.3%. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Institutional Investors Weigh In On UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in UWMC. 683 Capital Management LLC acquired a new stake in shares of UWM during the 2nd quarter worth approximately $19,872,000. Balyasny Asset Management L.P. grew its stake in UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the period. AQR Capital Management LLC grew its stake in UWM by 1,144.7% in the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock valued at $13,633,000 after acquiring an additional 2,296,205 shares during the period. Azora Capital LP acquired a new stake in UWM in the 2nd quarter valued at $9,032,000. Finally, Bank of America Corp DE grew its stake in UWM by 93.8% in the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after acquiring an additional 1,819,129 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

UWMC has been the subject of a number of recent research reports. Barclays raised shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group reduced their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. Finally, BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of UWM in a research note on Monday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.18.

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.