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 October 10th, resulting in a 17.71% decrease in his ownership stake.
• UWM's stock recently saw a 2.7% increase, closing at $5.45, with a market capitalization of approximately $8.71 billion.
• The company declared a quarterly dividend of $0.10 per share, with a dividend yield of 7.3%, although its payout ratio is currently at -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 10th. The stock was sold at an average price of $5.34, for a total value of $3,184,541.04. Following the completion of the sale, the chief executive officer directly owned 2,770,664 shares of the company's stock, valued at approximately $14,795,345.76. This trade represents a 17.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Wednesday, October 8th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.40, for a total value of $3,220,322.40.
• 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 value 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 value 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 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 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.

UWM Stock Up 2.7%

UWMC traded up $0.15 during trading on Tuesday, reaching $5.45. 10,020,020 shares of the stock traded hands, compared to its average volume of 6,412,911. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of -108.90 and a beta of 1.79. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.60. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The stock's 50-day simple moving average is $5.80 and its two-hundred day simple moving average is $4.87.

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

UWM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.3%. UWM's payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UWMC shares. The Goldman Sachs Group reduced their price target on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Wall Street Zen raised UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a "sell (d+)" rating on shares of UWM in a research note on Wednesday, October 8th. Finally, BTIG Research reiterated a "buy" rating and issued a $10.00 price objective on shares of UWM in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.46.

Hedge Funds Weigh In On UWM

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after acquiring an additional 2,958 shares during the period. Raymond James Financial Inc. bought a new position in UWM during the second quarter valued at about $35,000. Signaturefd LLC increased its stake 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 acquiring an additional 4,693 shares during the period. R Squared Ltd bought a new position in UWM during the second quarter valued at about $51,000. Finally, Quarry LP bought a new position in UWM during the first quarter valued at about $53,000. 53.59% of the stock is currently owned by institutional investors.

UWM Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.