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

Key Points

• UWM Holdings Corporation CEO Ishbia Mat sold 596,356 shares of the company's stock at an average price of $6.22, totaling over $3.7 million, decreasing his ownership by 7.91%.
• The company recently announced a quarterly dividend of $0.10 per share, with a dividend yield of 6.4%, payable on October 9th.
• UWM Holdings reported a positive quarterly earnings performance, with an EPS of $0.16, surpassing analyst expectations significantly.

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 Wednesday, October 1st. The shares were sold at an average price of $6.22, for a total value of $3,709,334.32. Following the completion of the transaction, the chief executive officer directly owned 6,945,156 shares of the company's stock, valued at $43,198,870.32. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.11, for a total value of $3,643,735.16.
• On Friday, September 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.42, for a total value of $3,828,605.52.
• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.45, for a total value of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 shares were 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 shares were sold at an average price of $6.44, for a total transaction of $2,576,231.84.

UWM Trading Up 2.8%

Shares of UWMC stock traded up $0.17 during mid-day trading on Wednesday, hitting $6.26. 9,626,280 shares of the company's stock were exchanged, compared to its average volume of 6,248,208. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $8.29. The stock has a 50-day simple moving average of $5.55 and a two-hundred day simple moving average of $4.89. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of -125.20 and a beta of 1.76.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $758.70 million for the quarter, compared to analysts' expectations of $621.60 million. Equities analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued 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 6.4%. UWM's dividend payout ratio (DPR) is -800.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UWMC. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. The Goldman Sachs Group reduced their target price on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Morgan Stanley cut UWM from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $4.50 to $6.50 in a research note on Monday. Finally, BTIG Research restated a "buy" rating and set a $10.00 price objective on shares of UWM in a research note on Monday, September 22nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, UWM presently has a consensus rating of "Hold" and an average target price of $6.18.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UWMC. GAMMA Investing LLC raised its holdings in shares of UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after acquiring an additional 2,958 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of UWM by 10.9% during the first quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company's stock worth $241,000 after buying an additional 4,336 shares during the last quarter. Teacher Retirement System of Texas increased its stake in UWM by 23.5% during the second quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company's stock valued at $99,000 after acquiring an additional 4,552 shares during the period. Cresset Asset Management LLC increased its stake in UWM by 14.4% during the first quarter. Cresset Asset Management LLC now owns 36,638 shares of the company's stock valued at $204,000 after acquiring an additional 4,625 shares during the period. Finally, Signaturefd LLC boosted its holdings in UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after purchasing an additional 4,693 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

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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