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 on Wednesday, November 5th. The stock was sold at an average price of $5.69, for a total value of $3,393,265.64. Following the completion of the sale, the chief executive officer owned 5,636,256 shares of the company’s stock, valued at $32,070,296.64. The trade was a 9.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, November 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.76, for a total value of $3,435,010.56.
• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.59, for a total value of $3,333,630.04.
• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.70, for a total value of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.83, for a total value of $3,476,755.48.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.87, for a total transaction of $3,500,609.72.
• 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.

UWM Trading Down 2.4%

Shares of UWM stock opened at $5.64 on Thursday. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -112.80 and a beta of 1.79. The business has a 50-day moving average price of $5.94 and a 200-day moving average price of $4.96. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14.

UWM (NYSE:UWMC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $621.60 million. Equities research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.46.

Hedge Funds Weigh In On UWM

Several hedge funds have recently added to or reduced their stakes in UWMC. GAMMA Investing LLC grew its stake in shares of UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after buying an additional 4,344 shares during the last quarter. Signaturefd LLC grew its stake in shares of UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after buying an additional 4,693 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of UWM during the second quarter valued at approximately $35,000. Quarry LP bought a new position in UWM in the 1st quarter valued at $53,000. Finally, Focus Partners Wealth bought a new position in UWM in the 1st quarter valued at $55,000. 53.59% of the stock is currently owned by institutional investors.

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.