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 company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $6.11, for a total transaction of $3,643,735.16. Following the transaction, the chief executive officer directly owned 741,512 shares of the company’s stock, valued at approximately $4,530,638.32. This trade represents a 44.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, October 1st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.22, for a total transaction of $3,709,334.32.
• On Friday, September 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 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.

UWM Price Performance

UWMC stock opened at $6.26 on Thursday. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $8.29. The company has a market cap of $10.01 billion, a P/E ratio of -125.20 and a beta of 1.79. The firm has a 50-day moving average of $5.59 and a 200 day moving average of $4.90. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55.

UWM (NYSE:UWMC) last released 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 the consensus estimate of $621.60 million. On average, sell-side analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.4%. UWM’s dividend payout ratio is -800.00%.

Institutional Investors Weigh In On UWM

Several large investors have recently bought and sold shares of UWMC. GAMMA Investing LLC grew its stake in shares of UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after acquiring an additional 2,958 shares during the period. Raymond James Financial Inc. bought a new stake in shares of UWM in the second quarter worth approximately $35,000. Signaturefd LLC grew its position in UWM by 135.4% in 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 period. R Squared Ltd bought a new stake in UWM in the 2nd quarter worth approximately $51,000. Finally, Quarry LP bought a new stake in UWM in the 1st quarter worth approximately $53,000. 53.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.