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 firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $5.18, for a total transaction of $3,089,124.08. Following the completion of the sale, the chief executive officer owned 4,443,544 shares of the company’s stock, valued at approximately $23,017,557.92. The trade was a 11.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, November 10th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.47, for a total value of $3,262,067.32.
• On Wednesday, November 5th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.69, for a total value of $3,393,265.64.
• On Monday, November 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.76, for a total value of $3,435,010.56.
• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.59, for a total value of $3,333,630.04.
• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.70, for a total value of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.83, for a total value of $3,476,755.48.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.87, for a total value of $3,500,609.72.
• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.73, for a total transaction of $3,417,119.88.
• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.56, for a total transaction of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.37, for a total transaction of $3,202,431.72.

UWM Stock Up 0.7%

UWMC stock opened at $5.48 on Wednesday. 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’s 50-day moving average price is $5.92 and its 200 day moving average price is $4.98. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.14. The company has a market cap of $8.76 billion, a P/E ratio of -109.60 and a beta of 1.79.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $151.14 million for the quarter, compared to analyst estimates of $651.51 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, research analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 annualized dividend and a yield of 7.3%.

Analyst Ratings Changes

Several research firms have weighed in on UWMC. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of UWM in a report on Monday, September 22nd. Morgan Stanley lowered shares of UWM from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Finally, Barclays upped their price target on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.46.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after purchasing an additional 1,010,907 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of UWM by 39.1% in the third quarter. PNC Financial Services Group Inc. now owns 20,124 shares of the company’s stock valued at $123,000 after buying an additional 5,657 shares during the last quarter. Moment Partners LLC purchased a new position in shares of UWM during the third quarter valued at approximately $61,000. Savant Capital LLC boosted its position in UWM by 129.4% during the third quarter. Savant Capital LLC now owns 121,838 shares of the company’s stock worth $742,000 after acquiring an additional 68,716 shares during the last quarter. Finally, State of Wyoming boosted its position in UWM by 24.9% during the third quarter. State of Wyoming now owns 14,552 shares of the company’s stock worth $89,000 after acquiring an additional 2,902 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.