UWM (NYSE:UWMC) CEO Sells $2,292,206.28 in Stock

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 400,036 shares of the company's stock for approximately $2.29 million, representing a 16.01% decrease in his ownership position.
• Shares of UWM traded down by 2.1% to $5.70, with the company experiencing increased trading volume and a market capitalization of $9.12 billion.
• UWM announced a quarterly dividend of $0.10 per share, scheduled for distribution on October 9th, reflecting an annualized yield of 7.0%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $5.73, for a total transaction of $2,292,206.28. Following the transaction, the chief executive officer directly owned 2,098,272 shares in the company, valued at $12,023,098.56. This trade represents a 16.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, August 22nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.78, for a total transaction of $2,312,208.08.
• On Wednesday, August 20th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.60, for a total transaction of $2,240,201.60.
• On Monday, August 18th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.35, for a total transaction of $2,140,192.60.
• On Friday, August 15th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.39, for a total transaction of $2,156,194.04.
• On Wednesday, August 13th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.45, for a total transaction of $2,180,196.20.
• On Monday, August 11th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.58, for a total transaction of $1,832,164.88.
• On Friday, August 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.58, for a total transaction of $1,832,164.88.
• On Wednesday, August 6th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.25, for a total transaction of $1,700,153.00.
• On Monday, August 4th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.25, for a total transaction of $1,700,153.00.
• On Friday, August 1st, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.19, for a total transaction of $1,676,150.84.

UWM Stock Performance

Shares of UWMC stock traded down $0.20 during trading hours on Thursday, hitting $5.50. 2,501,257 shares of the company were exchanged, compared to its average volume of 5,907,320. The firm has a fifty day simple moving average of $4.56 and a 200 day simple moving average of $4.90. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.45. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of -109.90 and a beta of 1.70.

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

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 7.3%. UWM's dividend payout ratio (DPR) is presently -800.00%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. 683 Capital Management LLC acquired a new stake in UWM in the 2nd quarter worth approximately $19,872,000. First Trust Advisors LP raised its position in UWM by 886.9% during the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after acquiring an additional 3,349,779 shares during the period. Balyasny Asset Management L.P. raised its position in UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock worth $24,803,000 after acquiring an additional 3,224,806 shares during the period. AQR Capital Management LLC raised its position in UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the period. Finally, Azora Capital LP purchased a new stake in shares of UWM during the second quarter worth $9,032,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Wall Street Analysts Forecast Growth

UWMC has been the subject of several analyst reports. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price on the stock in a research report on Tuesday, July 8th. 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 research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, UWM has a consensus rating of "Hold" and a consensus target price of $5.54.

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.