Ishbia Mat Sells 400,036 Shares of UWM Holdings Corporation (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $4.05, for a total transaction of $1,620,145.80. Following the completion of the sale, the chief executive officer directly owned 3,499,532 shares of the company's stock, valued at approximately $14,173,104.60. This trade represents a 10.26% 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 link.

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

• On Wednesday, July 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.32, for a total transaction of $1,728,155.52.
• On Monday, June 30th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.13, for a total transaction of $1,652,148.68.
• On Friday, June 27th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.12, for a total transaction of $1,648,148.32.
• On Wednesday, June 25th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.14, for a total transaction of $1,656,149.04.
• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.10, for a total transaction of $1,640,147.60.
• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.02, for a total transaction of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $3.99, for a total transaction of $1,596,143.64.

UWM Trading Up 2.2%

UWMC stock traded up $0.09 during midday trading on Wednesday, reaching $4.24. 5,796,830 shares of the company's stock traded hands, compared to its average volume of 3,869,454. The company has a market capitalization of $6.78 billion, a P/E ratio of -32.62 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $9.74. The business has a 50-day moving average price of $4.20 and a two-hundred day moving average price of $5.19.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. Equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.43%. UWM's dividend payout ratio (DPR) is -307.69%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Finally, Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, UWM currently has an average rating of "Hold" and a consensus target price of $6.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock valued at $69,060,000 after buying an additional 3,212,081 shares in the last quarter. First Trust Advisors LP increased its position in shares of UWM by 886.9% during the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock worth $21,880,000 after acquiring an additional 3,349,779 shares during the last quarter. AQR Capital Management LLC increased its position in shares of UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in shares of UWM during the fourth quarter worth about $6,602,000. Finally, Bank of New York Mellon Corp raised its holdings in UWM by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock valued at $6,386,000 after acquiring an additional 147,459 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.