Ishbia Mat Sells 596,356 Shares of UWM (NYSE:UWMC) Stock

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 596,356 shares of the company's stock on September 26th at an average price of $6.23, totaling approximately $3.7 million. This sale reduced his holdings by 23.57%.
• UWM Holdings reported a net margin of 0.48% and a quarterly revenue of $758.70 million, exceeding analysts’ expectations of $621.60 million, with an earnings per share of $0.16.
• UWM also announced a dividend of $0.10 per share to be paid on October 9th, representing a 6.4% annualized dividend yield.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $6.23, for a total transaction of $3,715,297.88. Following the completion of the transaction, the chief executive officer directly owned 1,934,224 shares in the company, valued at approximately $12,050,215.52. The trade was a 23.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.11, for a total transaction of $3,643,735.16.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.42, for a total transaction of $3,828,605.52.
• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.23, for a total transaction of $3,715,297.88.
• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.45, for a total transaction of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.81, for a total transaction of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.84, for a total transaction of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The stock was sold at an average price of $6.88, for a total transaction of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $6.77, for a total transaction of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.44, for a total transaction of $2,576,231.84.
• On Thursday, September 4th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.81, for a total transaction of $2,324,209.16.

UWM Price Performance

Shares of UWMC traded down $0.02 during trading hours on Monday, reaching $6.23. 9,660,066 shares of the stock traded hands, compared to its average volume of 6,217,238. 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 $8.64. The company's 50-day moving average price is $5.49 and its two-hundred day moving average price is $4.88. The company has a market cap of $9.96 billion, a P/E ratio of -124.50 and a beta of 1.75.

UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $621.60 million. On average, analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 dividend on an annualized basis and a dividend yield of 6.4%. UWM's payout ratio is -800.00%.

Institutional Investors Weigh In On UWM

Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its position in UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock worth $2,229,000 after purchasing an additional 54,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in UWM by 112.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock worth $648,000 after purchasing an additional 62,862 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in UWM in the first quarter worth $65,000. GAMMA Investing LLC increased its position in UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after purchasing an additional 2,958 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in UWM by 42.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company's stock worth $141,000 after purchasing an additional 7,687 shares during the last quarter. Institutional investors own 53.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on UWMC shares. 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 note on Tuesday, July 8th. BTIG Research reissued a "buy" rating and issued a $10.00 target price on shares of UWM in a report on Monday, September 22nd. The Goldman Sachs Group lowered 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. Morgan Stanley downgraded shares of UWM from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $4.50 to $6.50 in a report on Monday. Finally, Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.

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