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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $6.23, for a total value of $3,715,297.88. Following the completion of the sale, the chief executive officer owned 1,934,224 shares of the company’s stock, valued at $12,050,215.52. This trade represents a 23.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.11, for a total value of $3,643,735.16.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.42, for a total value of $3,828,605.52.
• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.45, for a total value of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.84, for a total value of $4,079,075.04.
• 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 value 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 value 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 value 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 value of $2,324,209.16.

UWM Stock Down 2.0%

NYSE:UWMC opened at $6.10 on Wednesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $9.75 billion, a PE ratio of -121.90 and a beta of 1.76. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $8.56. The stock has a 50-day simple moving average of $5.55 and a 200 day simple moving average of $4.89.

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 analysts’ consensus estimates of $0.06 by $0.10. The firm had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. On average, sell-side analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Thursday, September 18th. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group decreased their price target on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Barclays upgraded UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a research note on Tuesday, July 8th. BTIG Research restated a “buy” rating and issued a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.18.

Institutional Trading of UWM

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted 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 buying an additional 2,958 shares during the last quarter. Signaturefd LLC lifted its holdings in UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after purchasing an additional 4,693 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in UWM during the 2nd quarter worth approximately $35,000. Quarry LP acquired a new stake in UWM during the 1st quarter worth approximately $53,000. Finally, Focus Partners Wealth acquired a new stake in UWM during the 1st quarter worth approximately $55,000. 53.59% of the stock is owned by institutional investors and hedge funds.

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.