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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $6.44, for a total value of $2,576,231.84. Following the sale, the chief executive officer owned 2,697,948 shares of the company’s stock, valued at approximately $17,374,785.12. The trade was a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 value 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 value of $2,236,201.24.
• On Friday, August 29th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.70, for a total value of $2,280,205.20.
• On Wednesday, August 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.68, for a total value of $2,272,204.48.
• On Monday, August 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.73, for a total value of $2,292,206.28.
• On Friday, August 22nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.78, for a total value of $2,312,208.08.
• On Wednesday, August 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.60, for a total value of $2,240,201.60.
• On Monday, August 18th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.35, for a total value of $2,140,192.60.
• On Friday, August 15th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.39, for a total value of $2,156,194.04.
• On Wednesday, August 13th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.45, for a total value of $2,180,196.20.

UWM Stock Performance

Shares of UWMC opened at $6.41 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a 50-day moving average of $4.87 and a 200-day moving average of $4.86. The company has a market cap of $10.25 billion, a PE ratio of -128.20 and a beta of 1.76. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $9.25.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. The company had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. On average, equities research analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.2%. UWM’s payout ratio is -800.00%.

Hedge Funds Weigh In On UWM

A number of hedge funds have recently added to or reduced their stakes in UWMC. GAMMA Investing LLC lifted 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 worth $32,000 after buying an additional 2,958 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of UWM during the 2nd quarter worth approximately $35,000. Signaturefd LLC lifted its position in shares of UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after buying an additional 4,693 shares in the last quarter. R Squared Ltd bought a new position in shares of UWM during the 2nd quarter worth approximately $51,000. Finally, Quarry LP bought a new position in shares of UWM during the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UWMC. Barclays upgraded UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded UWM from an “outperform” rating to a “market perform” rating and cut their price target for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. The Goldman Sachs Group cut their price target on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, UWM presently has an average rating of “Hold” and a consensus price target of $5.54.

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.