UWM (NYSE:UWMC) CEO Ishbia Mat Sells 612,287 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 612,287 shares of UWM stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $5.71, for a total value of $3,496,158.77. Following the sale, the chief executive officer owned 8,016,982 shares of the company’s stock, valued at approximately $45,776,967.22. This represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.80, for a total transaction of $3,551,264.60.
• On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The shares were sold at an average price of $5.85, for a total value of $2,556,877.05.
• On Wednesday, November 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.81, for a total transaction of $3,464,828.36.
• On Monday, November 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.21, for a total transaction of $3,107,014.76.
• On Friday, November 21st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.09, for a total transaction of $3,035,452.04.
• On Wednesday, November 19th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $4.96, for a total value of $2,957,925.76.
• On Monday, November 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $4.94, for a total value of $2,945,998.64.
• On Thursday, November 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Monday, November 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32.
• On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.18, for a total transaction of $3,089,124.08.

UWM Stock Up 0.3%

Shares of UWMC stock opened at $5.66 on Thursday. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The firm’s 50 day moving average price is $5.57 and its two-hundred day moving average price is $5.09. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The business had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. Research analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.1%.

Institutional Investors Weigh In On UWM

Several institutional investors and hedge funds have recently bought and sold shares of UWMC. Integrated Investment Consultants LLC acquired a new stake in shares of UWM during the 3rd quarter worth approximately $32,630,000. 683 Capital Management LLC bought a new position in UWM in the 2nd quarter worth approximately $19,872,000. Balyasny Asset Management L.P. raised its stake in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. Two Sigma Investments LP raised its position in shares of UWM by 165.5% during the 3rd quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock worth $30,382,000 after buying an additional 3,109,591 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in UWM by 1,986.0% in the third quarter. Holocene Advisors LP now owns 3,231,243 shares of the company’s stock worth $19,678,000 after purchasing an additional 3,076,340 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on UWMC shares. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. Barclays upped their target price on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective on shares of UWM in a report on Monday, September 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Finally, UBS Group lifted their target price on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, UWM currently has an average rating of “Hold” and a consensus price target of $6.54.

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.