UWM (NYSE:UWMC) CEO Sells $3,142,796.12 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $5.27, for a total value of $3,142,796.12. Following the transaction, the chief executive officer directly owned 2,058,120 shares in the company, valued at $10,846,292.40. This trade represents a 22.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $4.94, for a total value of $2,945,998.64.
• On Monday, November 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32.
• On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.18, for a total transaction of $3,089,124.08.
• On Wednesday, November 5th, 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 Monday, November 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.76, for a total transaction of $3,435,010.56.
• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.59, for a total transaction of $3,333,630.04.
• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.70, for a total transaction of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.83, for a total transaction of $3,476,755.48.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 value of $3,417,119.88.

UWM Trading Down 4.4%

Shares of UWM stock traded down $0.23 during trading on Monday, reaching $4.88. 12,409,248 shares of the company were exchanged, compared to its average volume of 6,830,416. The business has a 50-day moving average price of $5.88 and a 200-day moving average price of $5.00. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of -97.50 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 twelve month low of $3.80 and a twelve month high of $7.14.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $151.14 million for the quarter, compared to the consensus estimate of $651.51 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. Sell-side analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 annualized dividend and a yield of 8.2%.

Institutional Trading of UWM

Several hedge funds and other institutional investors have recently modified their holdings of UWMC. 683 Capital Management LLC bought a new position in shares of UWM during the second quarter worth about $19,872,000. Balyasny Asset Management L.P. grew its stake in shares of UWM by 116.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after acquiring an additional 3,224,806 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of UWM by 165.5% in the third quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock valued at $30,382,000 after purchasing an additional 3,109,591 shares during the last quarter. Holocene Advisors LP lifted its position in shares of UWM by 1,986.0% in the third quarter. Holocene Advisors LP now owns 3,231,243 shares of the company’s stock worth $19,678,000 after purchasing an additional 3,076,340 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new stake in shares of UWM in the third quarter worth $14,433,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UWMC shares. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $4.50 to $6.50 in a research note on Monday, September 29th. UBS Group upped their price objective on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Wall Street Zen downgraded UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday. BTIG Research reiterated a “buy” rating and set a $10.00 target price on shares of UWM in a report on Monday, September 22nd. Finally, Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.54.

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.