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 business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $5.56, for a total value of $3,315,739.36. Following the sale, the chief executive officer owned 5,992,528 shares in the company, valued at approximately $33,318,455.68. This represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 value 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 value 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 value 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 value 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 value of $3,220,322.40.
• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total value of $3,393,265.64.
• On Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.99, for a total value 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 value 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 value 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 value of $3,715,297.88.

UWM Stock Performance

Shares of NYSE:UWMC opened at $5.66 on Wednesday. The business’s fifty day moving average price is $5.91 and its two-hundred day moving average price is $4.87. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of -113.20 and a beta of 1.79. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55.

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. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The firm had revenue of $758.70 million for the quarter, compared to analysts’ expectations of $621.60 million. As a group, analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Thursday, September 18th. UWM’s dividend payout ratio is -800.00%.

Hedge Funds Weigh In On UWM

Several large investors have recently made changes to their positions in the company. Merit Financial Group LLC acquired a new position in shares of UWM during the third quarter valued at $78,000. 180 Wealth Advisors LLC lifted its stake in shares of UWM by 5.0% during the third quarter. 180 Wealth Advisors LLC now owns 113,244 shares of the company’s stock valued at $690,000 after acquiring an additional 5,422 shares during the period. CWM LLC lifted its stake in shares of UWM by 31.5% during the third quarter. CWM LLC now owns 79,470 shares of the company’s stock valued at $484,000 after acquiring an additional 19,031 shares during the period. Wedmont Private Capital acquired a new position in shares of UWM during the third quarter valued at $192,000. Finally, Oak Thistle LLC acquired a new position in shares of UWM during the third quarter valued at $1,337,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. UBS Group boosted their price objective on UWM from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Barclays boosted their price objective on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.50 to $6.50 in a research note on Monday, September 29th. Finally, BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of UWM in a research note on Monday, September 22nd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.46.

UWM Company Profile

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.