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

Key Points

• UWM Holdings CEO Ishbia Mat sold 596,356 shares of the company's stock at an average price of $5.99, totaling approximately $3.57 million, reducing his ownership stake by 9.39%.
• The company's stock price decreased by 6.4% to $5.60, with approximately 10 million shares traded on that day.
• UWM Holdings announced a quarterly dividend of $0.10 per share, resulting in a 7.1% yield, with a payout ratio of -800.00%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the firm's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $5.99, for a total value of $3,572,172.44. Following the completion of the sale, the chief executive officer owned 5,752,444 shares of the company's stock, valued at approximately $34,457,139.56. This represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.69, for a total transaction of $3,393,265.64.
• On Wednesday, October 1st, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.22, for a total value of $3,709,334.32.
• 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 value of $3,643,735.16.
• On Friday, September 26th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.

UWM Trading Down 6.4%

UWMC traded down $0.38 on Monday, reaching $5.60. 10,199,969 shares of the company traded hands, compared to its average volume of 6,325,037. The firm has a fifty day simple moving average of $5.65 and a two-hundred day simple moving average of $4.88. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.60. The company has a market cap of $8.96 billion, a P/E ratio of -112.00 and a beta of 1.79.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating 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 firm had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. As a group, equities research analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 7.1%. UWM's payout ratio is -800.00%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock worth $33,000 after purchasing an additional 4,344 shares in the last quarter. Signaturefd LLC increased its position in UWM by 135.4% during the 1st 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. Raymond James Financial Inc. acquired a new position in UWM during the 2nd quarter valued at about $35,000. Quarry LP acquired a new position in UWM during the 1st quarter valued at about $53,000. Finally, Focus Partners Wealth acquired a new position in shares of UWM during the first quarter valued at about $55,000. Institutional investors own 53.59% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on UWMC shares. Keefe, Bruyette & Woods downgraded UWM from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. BTIG Research restated a "buy" rating and issued a $10.00 price target on shares of UWM in a report on Monday, September 22nd. Barclays boosted their price target on shares of UWM from $6.00 to $7.00 and gave the company an "overweight" rating in a report on Monday. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley downgraded shares of 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, September 29th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, UWM currently has an average rating of "Hold" and a consensus target price of $6.32.

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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