UWM (NYSE:UWMC) CEO Ishbia Mat Sells 596,356 Shares

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $6.23, for a total transaction of $3,715,297.88. Following the transaction, the chief executive officer owned 1,934,224 shares in the company, valued at $12,050,215.52. This trade represents a 23.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.11, for a total transaction of $3,643,735.16.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.42, for a total transaction of $3,828,605.52.
• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total transaction of $3,715,297.88.
• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.45, for a total transaction of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.81, for a total transaction of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.84, for a total transaction of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The shares were sold at an average price of $6.88, for a total transaction of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.77, for a total transaction of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.44, for a total transaction of $2,576,231.84.
• 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 transaction of $2,324,209.16.

UWM Trading Down 0.2%

Shares of NYSE UWMC traded down $0.02 during mid-day trading on Monday, reaching $6.23. The company had a trading volume of 9,660,066 shares, compared to its average volume of 6,217,238. The business’s 50-day moving average is $5.49 and its 200-day moving average is $4.88. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of -124.50 and a beta of 1.75. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $8.64.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The company had revenue of $758.70 million during the quarter, compared to analyst estimates of $621.60 million. Equities analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Thursday, September 18th. UWM’s dividend payout ratio is presently -800.00%.

Analyst Ratings Changes

Several research firms have commented on UWMC. BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods lowered shares of UWM from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Morgan Stanley lowered shares of UWM from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $4.50 to $6.50 in a research report on Monday. Finally, The Goldman Sachs Group decreased their price target 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. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, UWM currently has a consensus rating of “Hold” and a consensus target price of $6.18.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in UWM by 101.8% in 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of UWM during the 2nd quarter worth approximately $35,000. Signaturefd LLC grew its stake 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 purchasing an additional 4,693 shares during the period. R Squared Ltd acquired a new stake in shares of UWM during the 2nd quarter worth approximately $51,000. Finally, Quarry LP acquired a new stake 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.

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.