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 firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $4.05, for a total value of $1,620,145.80. Following the completion of the sale, the chief executive officer owned 3,499,532 shares in the company, valued at approximately $14,173,104.60. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, July 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.32, for a total value 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 value 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 value 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 shares were sold at an average price of $4.10, for a total value 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 value of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Stock Performance

UWMC traded up $0.16 during trading on Tuesday, hitting $4.15. The company's stock had a trading volume of 6,718,917 shares, compared to its average volume of 3,850,981. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $9.74. The business's 50 day simple moving average is $4.22 and its 200-day simple moving average is $5.21. The firm has a market cap of $6.64 billion, a PE ratio of -31.92 and a beta of 1.68. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87.

UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. The company had revenue of $613.37 million during the quarter, compared to analysts' expectations of $558.80 million. As a group, sell-side analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's dividend payout ratio (DPR) is presently -307.69%.

Institutional Trading of UWM

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 2,958 shares during the last quarter. Signaturefd LLC increased its stake in shares of UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after purchasing an additional 4,693 shares in the last quarter. Quarry LP purchased a new position in shares of UWM during the 1st quarter valued at approximately $53,000. Focus Partners Wealth purchased a new stake in shares of UWM during the first quarter worth about $55,000. Finally, Independent Advisor Alliance acquired a new position in UWM in the 1st quarter valued at $58,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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