UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat Sells 400,036 Shares

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $1,728,155.52. Following the completion of the sale, the chief executive officer directly owned 4,299,604 shares of the company’s stock, valued at approximately $18,574,289.28. This represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, July 7th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.05, for a total transaction of $1,620,145.80.
• On Monday, June 30th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.13, for a total value of $1,652,148.68.
• On Friday, June 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.12, for a total value of $1,648,148.32.
• On Wednesday, June 25th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.14, for a total value of $1,656,149.04.
• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.10, for a total transaction of $1,640,147.60.
• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.02, for a total transaction of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total transaction of $1,596,143.64.

UWM Stock Down 6.3%

Shares of UWMC traded down $0.27 during mid-day trading on Monday, hitting $3.99. 9,622,023 shares of the company’s stock were exchanged, compared to its average volume of 3,828,053. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of -30.69 and a beta of 1.68. The firm has a fifty day moving average of $4.23 and a two-hundred day moving average of $5.22. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.74.

UWM (NYSE:UWMC) last posted its earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. On average, sell-side analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.03%. UWM’s payout ratio is presently -307.69%.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after purchasing an additional 3,212,081 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings 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 worth $2,229,000 after acquiring an additional 54,160 shares during the period. 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 in the last quarter. KLP Kapitalforvaltning AS bought a new stake in UWM in the fourth quarter valued at about $121,000. Finally, Wells Fargo & Company MN increased its stake in UWM by 9.9% in the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company’s stock valued at $381,000 after acquiring an additional 5,849 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. UBS Group raised shares of UWM from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. 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 research report on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus target price of $6.75.

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.