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

Key Points

• Ishbia Mat, the CEO of UWM Holdings Corporation, sold 400,036 shares of the company's stock on July 28th for about $1.7 million, reducing his ownership by 19.06%.
• The company announced a quarterly dividend of $0.10 per share, resulting in a 9.37% dividend yield, though its payout ratio stands at -307.69%.
• Recent analyst ratings have varied for UWM, with Keefe, Bruyette & Woods downgrading the stock from "outperform" to "market perform" and cutting its price target from $6.50 to $4.50.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $4.24, for a total transaction of $1,696,152.64. Following the completion of the sale, the chief executive officer directly owned 1,698,992 shares in the company, valued at approximately $7,203,726.08. The trade was a 19.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, July 25th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.23, for a total transaction of $1,692,152.28.
• On Wednesday, July 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.65, for a total transaction of $1,860,167.40.
• On Monday, July 21st, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.40, for a total transaction of $1,760,158.40.
• On Friday, July 18th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.20, for a total transaction of $1,680,151.20.
• On Wednesday, July 16th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.17, for a total value of $1,668,150.12.
• On Monday, July 14th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.22, for a total transaction of $1,688,151.92.
• On Friday, July 11th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.14, for a total value of $1,656,149.04.
• On Wednesday, July 9th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.26, for a total transaction of $1,704,153.36.
• On Monday, July 7th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.05, for a total value of $1,620,145.80.
• 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 transaction of $1,728,155.52.

UWM Price Performance

UWM stock remained flat at $4.27 during mid-day trading on Monday. 5,059,673 shares of the company's stock traded hands, compared to its average volume of 5,260,038. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87. The stock has a market cap of $6.83 billion, a PE ratio of -32.85 and a beta of 1.68. The business has a 50 day moving average of $4.20 and a 200 day moving average of $5.06. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $9.74.

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

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.37%. The ex-dividend date was Wednesday, June 18th. UWM's payout ratio is -307.69%.

Analyst Ratings Changes

UWMC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. The Goldman Sachs Group cut their target price on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Barclays raised shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a research note on Tuesday, July 8th. Finally, UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.18.

Hedge Funds Weigh In On UWM

A number of hedge funds have recently bought and sold shares of UWMC. GAMMA Investing LLC grew its position in shares of UWM by 101.8% during the 1st 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. Signaturefd LLC boosted its position in shares of UWM by 135.4% during the 1st 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 last quarter. Quarry LP bought a new position in UWM during the first quarter valued at $53,000. Focus Partners Wealth bought a new stake in shares of UWM in the 1st quarter valued at approximately $55,000. Finally, Independent Advisor Alliance bought a new stake in shares of UWM in the 1st quarter worth about $58,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

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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