UWM (NYSE:UWMC) CEO Sells $3,220,322.40 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $5.40, for a total transaction of $3,220,322.40. Following the sale, the chief executive officer directly owned 3,963,376 shares in the company, valued at approximately $21,402,230.40. This represents a 13.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.69, for a total transaction of $3,393,265.64.
• On Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.99, for a total transaction of $3,572,172.44.
• On Wednesday, October 1st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.22, for a total transaction of $3,709,334.32.
• 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 Friday, September 26th, 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 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.

UWM Stock Performance

UWM stock opened at $5.34 on Friday. 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 Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.60. The company has a market cap of $8.53 billion, a PE ratio of -106.70 and a beta of 1.79. The company’s 50-day moving average is $5.78 and its two-hundred day moving average is $4.88.

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

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Thursday, September 18th. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wedmont Private Capital acquired a new stake in shares of UWM in the third quarter valued at approximately $192,000. Oak Thistle LLC acquired a new stake in shares of UWM in the third quarter valued at approximately $1,337,000. GAMMA Investing LLC raised its holdings in shares of UWM by 408.7% in the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of UWM by 24.0% in the second quarter. Osaic Holdings Inc. now owns 43,793 shares of the company’s stock valued at $181,000 after purchasing an additional 8,473 shares during the last quarter. Finally, EVR Research LP acquired a new stake in shares of UWM in the second quarter valued at approximately $4,189,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UWMC has been the topic of a number of analyst reports. BTIG Research reiterated a “buy” rating and issued a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Finally, Barclays raised their target price on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.46.

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.