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 stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $5.83, for a total transaction of $3,476,755.48. Following the completion of the sale, the chief executive officer directly owned 3,010,748 shares in the company, valued at approximately $17,552,660.84. This trade represents a 16.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction 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 stock was 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.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.39, for a total transaction of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total transaction of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.34, for a total transaction of $3,184,541.04.
• On Wednesday, October 8th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.40, for a total transaction of $3,220,322.40.
• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total transaction of $3,393,265.64.
• On Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.99, for a total transaction of $3,572,172.44.

UWM Stock Performance

Shares of UWMC opened at $5.83 on Wednesday. The firm has a 50-day moving average price of $5.94 and a 200 day moving average price of $4.91. The firm has a market capitalization of $9.32 billion, a PE ratio of -116.54 and a beta of 1.79. 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.

UWM (NYSE:UWMC) last announced its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. The firm had revenue of $758.70 million during the quarter, compared to analyst estimates of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, sell-side analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.9%. UWM’s payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on UWMC shares. Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. UBS Group lifted their price objective on shares of UWM from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Barclays lifted their price objective on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Morgan Stanley cut shares of UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.50 to $6.50 in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Two research 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 MarketBeat.com, UWM presently has an average rating of “Hold” and a consensus target price of $6.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UWMC. 683 Capital Management LLC acquired a new position in shares of UWM in the second quarter worth about $19,872,000. Balyasny Asset Management L.P. boosted its holdings in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after buying an additional 3,224,806 shares during the period. AQR Capital Management LLC boosted its holdings in shares of UWM by 1,144.7% in the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after buying an additional 2,296,205 shares during the period. Azora Capital LP acquired a new position in shares of UWM in the second quarter worth about $9,032,000. Finally, Bank of America Corp DE boosted its holdings in shares of UWM by 93.8% during the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock worth $15,561,000 after purchasing an additional 1,819,129 shares during the period. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.