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

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 400,036 shares of the company's stock for approximately $1.69 million, resulting in a 16.01% decrease in his ownership.
• UWM's most recent quarterly earnings reported a loss of ($0.23) earnings per share, missing expectations by ($0.29), though revenue exceeded projections at $613.37 million.
• The company declared a quarterly dividend of $0.10 per share, yielding 9.37%, but has a dividend payout ratio of -307.69%, indicating financial strain.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Friday, July 25th. The shares were sold at an average price of $4.23, for a total value of $1,692,152.28. Following the sale, the chief executive officer directly owned 2,099,028 shares of the company's stock, valued at approximately $8,878,888.44. This trade represents a 16.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, July 28th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.24, for a total transaction of $1,696,152.64.
• On Wednesday, July 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.65, for a total value of $1,860,167.40.
• On Monday, July 21st, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.40, for a total value of $1,760,158.40.
• On Friday, July 18th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.20, for a total transaction of $1,680,151.20.
• On Wednesday, July 16th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.17, for a total transaction of $1,668,150.12.
• On Monday, July 14th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.22, for a total value of $1,688,151.92.
• On Friday, July 11th, 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 Wednesday, July 9th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.26, for a total transaction of $1,704,153.36.
• 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 transaction of $1,620,145.80.
• On Wednesday, July 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.32, for a total value of $1,728,155.52.

UWM Price Performance

Shares of UWMC remained flat at $4.27 during midday trading on Monday. The stock had a trading volume of 5,059,673 shares, compared to its average volume of 5,260,038. The firm has a fifty day simple moving average of $4.20 and a 200-day simple moving average of $5.06. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.74. The stock has a market cap of $6.83 billion, a P/E ratio of -32.85 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50.

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 return on equity of 3.86% and a negative net margin of 0.36%. The company had revenue of $613.37 million for the quarter, compared to analysts' expectations of $558.80 million. As a group, equities research analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.37%. UWM's dividend payout ratio is currently -307.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UWMC shares. Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a report on Tuesday, July 8th. 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 research note on Wednesday, July 2nd. Finally, UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. 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, the company presently has an average rating of "Hold" and a consensus target price of $6.18.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake 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 purchasing an additional 2,958 shares in the last quarter. Signaturefd LLC increased its position in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after buying an additional 4,693 shares in the last quarter. Quarry LP purchased a new position in shares of UWM in the first quarter valued at $53,000. Focus Partners Wealth purchased a new position in UWM during the 1st quarter valued at about $55,000. Finally, Independent Advisor Alliance purchased a new position in UWM during the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

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.

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