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 Friday, October 24th. The shares were sold at an average price of $5.87, for a total transaction of $3,500,609.72. Following the transaction, the chief executive officer owned 3,607,104 shares of the company’s stock, valued at $21,173,700.48. This trade represents a 14.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $5.73, for a total value 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 value 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 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 stock was 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 stock was 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 Stock Down 0.1%

NYSE UWMC opened at $5.86 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a fifty day moving average of $5.94 and a two-hundred day moving average of $4.90. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of -117.10 and a beta of 1.79. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.14.

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

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders 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 6.8%. The ex-dividend date of this dividend was Thursday, September 18th. UWM’s payout ratio is presently -800.00%.

Hedge Funds Weigh In On UWM

Several hedge funds have recently modified their holdings of UWMC. GAMMA Investing LLC increased its holdings in shares of UWM by 101.8% during 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 increased its holdings in shares of UWM by 112.5% during 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. increased its holdings in shares of UWM by 15.3% during 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 acquired a new position in shares of UWM during the first quarter valued at about $65,000. Finally, Summit Trail Advisors LLC acquired a new position in shares of UWM during the first quarter valued at about $126,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UWMC. UBS Group boosted their target price on shares of UWM from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. The Goldman Sachs Group lowered their target price on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Morgan Stanley lowered shares of UWM from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $4.50 to $6.50 in a research note on Monday, September 29th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.