Ishbia Mat Sells 400,036 Shares of UWM Holdings Corporation (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $4.12, for a total value of $1,648,148.32. Following the transaction, the chief executive officer owned 1,299,712 shares of the company's stock, valued at approximately $5,354,813.44. This trade represents a 23.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, June 30th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.13, for a total value of $1,652,148.68.
• On Wednesday, June 25th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.14, for a total value of $1,656,149.04.
• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.10, for a total value of $1,640,147.60.
• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.02, for a total transaction of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total transaction of $1,596,143.64.

UWM Stock Performance

Shares of UWM stock remained flat at $4.30 during trading on Wednesday. 5,247,472 shares of the stock traded hands, compared to its average volume of 3,780,113. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a fifty day moving average of $4.24 and a two-hundred day moving average of $5.25. The firm has a market cap of $6.88 billion, a PE ratio of -33.08 and a beta of 1.68. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. Equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.30%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's payout ratio is presently -307.69%.

Institutional Investors Weigh In On UWM

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in UWM by 37.6% in the 4th quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after acquiring an additional 3,212,081 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of UWM during the fourth quarter worth approximately $121,000. Wells Fargo & Company MN increased its stake in shares of UWM by 9.9% during the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock worth $381,000 after purchasing an additional 5,849 shares during the period. GAMMA Investing LLC lifted its holdings in UWM by 1,002.0% during the 1st quarter. GAMMA Investing LLC now owns 32,012 shares of the company's stock worth $175,000 after purchasing an additional 29,107 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in UWM by 15.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock valued at $2,229,000 after purchasing an additional 54,160 shares during the period. Institutional investors own 53.59% of the company's stock.

Analysts Set New Price Targets

UWMC has been the subject of a number of analyst reports. UBS Group raised shares of UWM from a "sell" rating to a "neutral" rating and decreased their target price for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. The Goldman Sachs Group decreased their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.75.

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.