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

Key Points

• Ishbia Mat, the CEO of UWM Holdings Corporation, sold 596,356 shares of the company stock on October 17th, reducing his position by 8.30% and leaving him with approximately 6.59 million shares.
• UWM reported a quarterly earnings per share (EPS) of $0.16, exceeding analyst estimates of $0.06, with revenues of $758.70 million for the quarter.
• The company also declared a quarterly dividend of $0.10, representing an annualized yield of 7.2%, despite a notably high 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 17th. The shares were sold at an average price of $5.37, for a total value of $3,202,431.72. Following the sale, the chief executive officer directly owned 6,588,884 shares in the company, valued at approximately $35,382,307.08. This trade represents a 8.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.56, for a total value of $3,315,739.36.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.39, for a total value of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.34, for a total value of $3,184,541.04.
• 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 shares were sold at an average price of $6.23, for a total value of $3,715,297.88.

UWM Trading Up 3.1%

Shares of NYSE:UWMC traded up $0.17 during midday trading on Monday, reaching $5.57. The company's stock had a trading volume of 7,735,208 shares, compared to its average volume of 6,460,702. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of -111.30 and a beta of 1.79. 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 firm has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $4.86. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.27.

UWM (NYSE:UWMC - Get Free Report) last announced 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 company had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. As a group, analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Thursday, September 18th. UWM's payout ratio is currently -800.00%.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of UWM by 15.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock worth $2,229,000 after buying an additional 54,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of UWM by 112.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock worth $648,000 after buying an additional 62,862 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of UWM in the 1st quarter worth approximately $65,000. GAMMA Investing LLC boosted its stake in shares of UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after buying an additional 2,958 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of UWM by 42.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company's stock worth $141,000 after buying an additional 7,687 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered UWM from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a research report on Wednesday, October 8th. Barclays boosted their target price on UWM from $6.00 to $7.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Finally, Morgan Stanley lowered UWM from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $4.50 to $6.50 in a research report on Monday, September 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, UWM currently has a consensus rating of "Hold" and an average target price of $6.46.

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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