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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $6.42, for a total transaction of $3,828,605.52. Following the completion of the sale, the chief executive officer owned 3,126,936 shares of the company’s stock, valued at $20,074,929.12. This trade represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction 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 transaction 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 transaction 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 transaction 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.
• 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 transaction of $2,324,209.16.
• On Tuesday, September 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was 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 stock was sold at an average price of $5.70, for a total transaction of $2,280,205.20.

UWM Stock Performance

UWMC opened at $6.22 on Friday. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $8.64. 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 $9.94 billion, a PE ratio of -124.30 and a beta of 1.76. The firm has a 50 day moving average of $5.45 and a two-hundred day 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 (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 6.4%. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. 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 report on Tuesday, July 8th. BTIG Research reaffirmed a “buy” rating and set a $10.00 target price on shares of UWM in a report on Monday. Keefe, Bruyette & Woods lowered shares of UWM from an “outperform” rating to a “market perform” rating and cut their target price for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Finally, The Goldman Sachs Group cut their target price on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.18.

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its position in shares of UWM by 15.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company’s stock valued at $2,229,000 after acquiring an additional 54,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of UWM by 112.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company’s stock valued at $648,000 after acquiring an additional 62,862 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of UWM during the 1st quarter valued at about $65,000. GAMMA Investing LLC boosted its position in shares of UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after acquiring an additional 2,958 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of UWM by 42.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company’s stock valued at $141,000 after acquiring an additional 7,687 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.