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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $6.42, for a total value of $3,828,605.52. Following the transaction, the chief executive officer directly owned 3,126,936 shares of the company’s stock, valued at approximately $20,074,929.12. This represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $3,715,297.88.
• 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 shares were 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 transaction of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were 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 shares were sold at an average price of $5.81, for a total transaction 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 stock was sold at an average price of $5.70, for a total value of $2,280,205.20.

UWM Stock Up 0.4%

Shares of NYSE:UWMC opened at $6.43 on Thursday. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $8.64. 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 business’s 50-day moving average is $5.41 and its 200-day moving average is $4.89. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of -128.50 and a beta of 1.76.

UWM (NYSE:UWMC) last issued its earnings results 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 negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. Equities research analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays raised UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group cut their price target on UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a report on Wednesday, July 2nd. BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of UWM in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered UWM from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus target price of $6.18.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UWMC. Balyasny Asset Management L.P. boosted its position in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after buying an additional 3,224,806 shares during the last quarter. 683 Capital Management LLC bought a new position in UWM during the 2nd quarter valued at $19,872,000. Bank of America Corp DE boosted its holdings in UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock worth $15,561,000 after acquiring an additional 1,819,129 shares during the last quarter. AQR Capital Management LLC boosted its holdings in UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of UWM by 47.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock worth $9,997,000 after acquiring an additional 777,264 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

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.