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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $6.23, for a total value of $3,715,297.88. Following the completion of the transaction, the chief executive officer directly owned 4,319,648 shares in the company, valued at approximately $26,911,407.04. This trade represents a 12.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.45, for a total value of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.84, for a total value of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The stock was sold at an average price of $6.88, for a total value 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 value 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 value 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 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.

UWM Trading Down 1.3%

Shares of NYSE:UWMC opened at $6.32 on Tuesday. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $8.73. The business’s fifty day simple moving average is $5.32 and its 200-day simple moving average is $4.86. The company has a market capitalization of $10.10 billion, a PE ratio of -126.30 and a beta of 1.75. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85.

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

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.3%. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after purchasing an additional 2,958 shares in the last quarter. Bleakley Financial Group LLC increased its stake in UWM by 10.9% during the 1st quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company’s stock worth $241,000 after buying an additional 4,336 shares in the last quarter. Teacher Retirement System of Texas increased its stake in UWM by 23.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company’s stock worth $99,000 after buying an additional 4,552 shares in the last quarter. Cresset Asset Management LLC increased its stake in UWM by 14.4% during the 1st quarter. Cresset Asset Management LLC now owns 36,638 shares of the company’s stock worth $204,000 after buying an additional 4,625 shares in the last quarter. Finally, Signaturefd LLC increased its stake in 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. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. 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 report on Thursday, July 10th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays upgraded UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price on the stock in a research note on Tuesday, July 8th. 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 note on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, UWM presently has an average rating of “Hold” and a consensus price target of $5.54.

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.