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 on October 8th at an average price of $5.40, reducing his total holdings by 13.08%.
• UWM's stock recently traded at $5.39 with a market cap of $8.62 billion, while the company reported earnings of $0.16 EPS for the last quarter, surpassing estimates.
• The company declared a $0.10 quarterly dividend with a yield of 7.4%, payable on October 9th to shareholders of record as of September 18th.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the company's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $5.40, for a total transaction of $3,220,322.40. Following the completion of the sale, the chief executive officer owned 3,963,376 shares in the company, valued at $21,402,230.40. This represents a 13.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.99, for a total transaction of $3,572,172.44.
• 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 transaction 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 transaction 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 transaction 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 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 shares were sold at an average price of $6.84, for a total transaction of $4,079,075.04.

UWM Stock Up 0.7%

NYSE:UWMC traded up $0.04 on Wednesday, hitting $5.39. The stock had a trading volume of 8,013,206 shares, compared to its average volume of 6,379,212. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $8.62 billion, a P/E ratio of -107.80 and a beta of 1.79. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.60. The firm's fifty day simple moving average is $5.70 and its two-hundred day simple moving average is $4.88.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm had revenue of $758.70 million during the quarter, compared to analyst estimates of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. Analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 7.4%. UWM's dividend payout ratio (DPR) is -800.00%.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wedmont Private Capital purchased a new stake in UWM in the 3rd quarter worth approximately $192,000. Oak Thistle LLC purchased a new stake in UWM in the 3rd quarter worth approximately $1,337,000. GAMMA Investing LLC lifted its stake in UWM by 408.7% in the 3rd 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. Osaic Holdings Inc. lifted its stake in UWM by 24.0% in the 2nd quarter. Osaic Holdings Inc. now owns 43,793 shares of the company's stock worth $181,000 after purchasing an additional 8,473 shares in the last quarter. Finally, EVR Research LP purchased a new stake in UWM in the 2nd quarter worth approximately $4,189,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on UWMC shares. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods downgraded shares of 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 research report on Thursday, July 10th. The Goldman Sachs Group reduced their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. BTIG Research reissued a "buy" rating and set a $10.00 target price on shares of UWM in a research report on Monday, September 22nd. Finally, Morgan Stanley downgraded shares of UWM from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $4.50 to $6.50 in a research report on Monday, September 29th. Two equities 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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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