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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $5.40, for a total value of $3,220,322.40. Following the sale, the chief executive officer directly owned 3,963,376 shares in the company, valued at $21,402,230.40. This trade represents a 13.08% decrease in their position. The sale 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 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.
• 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 value 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 value 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 value 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 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.

UWM Stock Performance

NYSE UWMC opened at $5.39 on Thursday. The stock has a market capitalization of $8.62 billion, a PE ratio of -107.80 and a beta of 1.79. The business has a 50 day simple moving average of $5.73 and a two-hundred day simple moving average of $4.88. 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 Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.60.

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

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.4%. UWM’s payout ratio is -800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley cut UWM from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Barclays lifted their target price on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a report on Wednesday. The Goldman Sachs Group dropped their target price on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.32.

Institutional Investors Weigh In On UWM

Institutional investors and hedge funds have recently modified their holdings of the business. 683 Capital Management LLC bought a new stake in UWM during the 2nd quarter valued at $19,872,000. Balyasny Asset Management L.P. raised its position in UWM by 116.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. AQR Capital Management LLC raised its position 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 valued at $13,633,000 after purchasing an additional 2,296,205 shares in the last quarter. Azora Capital LP bought a new stake in UWM during the 2nd quarter valued at $9,032,000. Finally, Bank of America Corp DE raised its position 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 valued at $15,561,000 after purchasing an additional 1,819,129 shares in the last quarter. 53.59% of the stock is 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.