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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $5.87, for a total transaction of $3,500,609.72. Following the transaction, the chief executive officer directly owned 3,607,104 shares of the company’s stock, valued at $21,173,700.48. The trade was a 14.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.83, for a total transaction of $3,476,755.48.
• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.73, for a total transaction of $3,417,119.88.
• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.56, for a total transaction of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.37, for a total transaction of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.39, for a total transaction of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total transaction of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.34, for a total transaction of $3,184,541.04.
• On Wednesday, October 8th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.40, for a total transaction of $3,220,322.40.
• 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.

UWM Price Performance

Shares of NYSE:UWMC opened at $5.83 on Wednesday. The company’s fifty day moving average price is $5.94 and its 200 day moving average price is $4.91. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.14. 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 firm has a market capitalization of $9.32 billion, a P/E ratio of -116.54 and a beta of 1.79.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The firm had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. As a group, sell-side 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 was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.9%. The ex-dividend date was Thursday, September 18th. UWM’s dividend payout ratio (DPR) is currently -800.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a research note on Wednesday, July 2nd. Morgan Stanley lowered shares of UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $4.50 to $6.50 in a research note on Monday, September 29th. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Barclays lifted their price objective on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Finally, Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.46.

Institutional Trading of UWM

Several hedge funds and other institutional investors have recently made changes to their positions in UWMC. GAMMA Investing LLC boosted its holdings in shares of UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after acquiring an additional 2,958 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of UWM by 112.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company’s stock valued at $648,000 after acquiring an additional 62,862 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company’s stock valued at $2,229,000 after acquiring an additional 54,160 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of UWM in the first quarter valued at about $65,000. Finally, Summit Trail Advisors LLC purchased a new stake in shares of UWM in the first quarter valued at about $126,000. Hedge funds and other institutional investors 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.