UWM Holdings Corporation (NYSE:UWMC) CEO Sells $1,704,153.36 in Stock

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $4.26, for a total value of $1,704,153.36. Following the completion of the transaction, the chief executive officer directly owned 2,699,460 shares in the company, valued at $11,499,699.60. This trade represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, July 7th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.05, for a total value of $1,620,145.80.
• On Wednesday, July 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.32, for a total value of $1,728,155.52.
• 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 Friday, June 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.12, for a total value of $1,648,148.32.
• On Wednesday, June 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were 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 shares were sold at an average price of $4.02, for a total value of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Stock Performance

NYSE UWMC traded up $0.01 during trading hours on Friday, reaching $4.16. The company's stock had a trading volume of 5,766,530 shares, compared to its average volume of 3,920,702. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87. The business has a 50-day simple moving average of $4.18 and a 200 day simple moving average of $5.17. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $9.74. The stock has a market cap of $6.65 billion, a PE ratio of -32.00 and a beta of 1.68.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million during the quarter, compared to the consensus estimate 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 predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.62%. The ex-dividend date was Wednesday, June 18th. UWM's dividend payout ratio is currently -307.69%.

Institutional Trading of UWM

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in UWM by 101.8% in the 1st 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 during the period. Signaturefd LLC increased its position in UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after acquiring an additional 4,693 shares during the period. Quarry LP acquired a new stake in UWM in the 1st quarter valued at approximately $53,000. Focus Partners Wealth acquired a new stake in UWM in the 1st quarter valued at approximately $55,000. Finally, Independent Advisor Alliance acquired a new stake in UWM in the 1st quarter valued at approximately $58,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UWMC shares. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and lowered their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target for the company in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods downgraded UWM from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $6.50 to $4.50 in a research note on Thursday. Finally, The Goldman Sachs Group cut their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, UWM currently has a consensus rating of "Hold" and an average target price of $6.18.

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.