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 firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $4.10, for a total value of $1,640,147.60. Following the sale, the chief executive officer now directly owns 2,899,856 shares of the company's stock, valued at $11,889,409.60. This represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 stock was sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Stock Up 4.5%

Shares of UWMC traded up $0.18 on Monday, reaching $4.22. The stock had a trading volume of 9,504,186 shares, compared to its average volume of 3,617,864. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $9.74. 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 company has a 50-day simple moving average of $4.29 and a 200-day simple moving average of $5.35.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly 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). UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. The firm had revenue of $613.37 million for the quarter, compared to the consensus estimate of $558.80 million. Analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.48%. The ex-dividend date is Wednesday, June 18th. UWM's dividend payout ratio is currently -307.69%.

Hedge Funds Weigh In On UWM

Several hedge funds have recently bought and sold shares of UWMC. GAMMA Investing LLC lifted its holdings in shares of UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after buying an additional 2,958 shares during the period. Signaturefd LLC lifted its holdings in shares of UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after buying an additional 4,693 shares during the period. Quarry LP bought a new stake in UWM during the first quarter valued at about $53,000. Focus Partners Wealth bought a new stake in UWM during the first quarter valued at about $55,000. Finally, Independent Advisor Alliance bought a new stake in UWM during the first quarter valued at about $58,000. Institutional investors own 53.59% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wedbush reissued a "neutral" rating and issued a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. UBS Group raised UWM from a "sell" rating to a "neutral" rating and dropped their price target for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on UWM from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods dropped their price target on UWM from $7.50 to $6.50 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.86.

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.

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