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 on 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 sale, the chief executive officer owned 4,443,544 shares in the company, valued at approximately $23,017,557.92. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 transaction of $3,262,067.32.
• On Wednesday, November 5th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 stock was 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 shares were 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 stock was 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 value 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 stock was sold at an average price of $5.37, for a total transaction of $3,202,431.72.

UWM Trading Up 3.8%

Shares of UWM stock traded up $0.20 during trading on Monday, reaching $5.45. The company’s stock had a trading volume of 14,998,281 shares, compared to its average volume of 6,760,784. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $7.14. The firm’s 50-day moving average is $5.93 and its two-hundred day moving average is $4.97. The company has a market cap of $8.72 billion, a price-to-earnings ratio of -109.00 and a beta of 1.79.

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 negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. On average, sell-side analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Thursday, December 18th.

Hedge Funds Weigh In On UWM

Several hedge funds have recently made changes to their positions in UWMC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in UWM by 42.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company’s stock worth $141,000 after purchasing an additional 7,687 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of UWM during the 1st quarter valued at about $342,000. Parallel Advisors LLC increased its position in shares of UWM by 94.6% during the second quarter. Parallel Advisors LLC now owns 29,533 shares of the company’s stock valued at $122,000 after buying an additional 14,358 shares during the period. Russell Investments Group Ltd. increased its position in shares of UWM by 769.3% during the first quarter. Russell Investments Group Ltd. now owns 13,413 shares of the company’s stock valued at $73,000 after buying an additional 11,870 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in UWM by 44.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 171,438 shares of the company’s stock worth $730,000 after buying an additional 52,718 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on UWMC. BTIG Research restated a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. UBS Group raised their target price on shares of UWM from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley lowered shares of UWM from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, UWM presently has an average rating of “Hold” and a consensus target price of $6.46.

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.