UWM Holdings Corporation (NYSE:UWMC) CEO Sells $1,652,148.68 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Monday, June 30th. The stock was sold at an average price of $4.13, for a total value of $1,652,148.68. Following the completion of the sale, the chief executive officer directly owned 899,676 shares of the company’s stock, valued at approximately $3,715,661.88. The trade was a 30.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 shares were sold at an average price of $3.99, for a total transaction of $1,596,143.64.

UWM Trading Down 0.5%

Shares of UWM stock opened at $4.27 on Friday. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $9.74. The company’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $5.24. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $6.83 billion, a PE ratio of -32.85 and a beta of 1.68.

UWM (NYSE:UWMC) last released its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. The company had revenue of $613.37 million for the quarter, compared to analysts’ expectations of $558.80 million. As a group, equities analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.37%. The ex-dividend date is Wednesday, June 18th. UWM’s dividend payout ratio is -307.69%.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after purchasing an additional 2,958 shares during the period. Sherbrooke Park Advisers LLC boosted its holdings in UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after buying an additional 2,975 shares during the period. Mariner LLC increased its stake in UWM by 5.1% in the 4th quarter. Mariner LLC now owns 64,455 shares of the company’s stock worth $378,000 after buying an additional 3,126 shares in the last quarter. Victory Capital Management Inc. increased its stake in UWM by 20.7% in the 4th quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock worth $119,000 after buying an additional 3,488 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in UWM by 13.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company’s stock valued at $174,000 after acquiring an additional 3,524 shares during the period. Institutional investors own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

UWMC has been the subject of a number of research reports. UBS Group upgraded shares of UWM from a “sell” rating to a “neutral” rating and decreased their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price objective on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their target price on UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.75.

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.