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

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 400,036 shares of the company’s stock for a total of $1.83 million, reducing his ownership by 17.40%.
• UWM Holdings reported a quarterly earnings per share of $0.16, significantly beating analysts' expectations of $0.06, with revenue of $758.70 million.
• The company announced a quarterly dividend of $0.10 per share with a dividend yield of 8.8%, payable on October 9th to stockholders of record.

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, August 11th. The shares were sold at an average price of $4.58, for a total value of $1,832,164.88. Following the completion of the transaction, the chief executive officer owned 1,898,632 shares of the company's stock, valued at $8,695,734.56. This trade represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, August 8th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.58, for a total value of $1,832,164.88.
• On Wednesday, August 6th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.25, for a total value of $1,700,153.00.
• On Monday, August 4th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.25, for a total value of $1,700,153.00.
• On Friday, August 1st, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.19, for a total value of $1,676,150.84.
• On Wednesday, July 30th, 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 Monday, July 28th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.24, for a total value of $1,696,152.64.
• 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 value of $1,692,152.28.
• On Wednesday, July 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.65, for a total value of $1,860,167.40.
• On Monday, July 21st, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.40, for a total value 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 value of $1,680,151.20.

UWM Stock Up 0.6%

NYSE:UWMC traded up $0.03 on Monday, reaching $4.55. The stock had a trading volume of 9,893,799 shares, compared to its average volume of 5,494,126. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The company has a 50-day moving average of $4.22 and a 200 day moving average of $4.94. The stock has a market cap of $7.27 billion, a P/E ratio of -90.90 and a beta of 1.70. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $9.74.

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

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Thursday, September 18th. UWM's dividend payout ratio is -800.00%.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of research analyst reports. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a report on Tuesday, July 8th. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group decreased their price target on shares of UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods cut shares of UWM from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.54.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently modified their holdings of UWMC. First Trust Advisors LP raised its stake in shares of UWM by 886.9% in the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company's stock valued at $21,880,000 after purchasing an additional 3,349,779 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of UWM by 1,144.7% in the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after purchasing an additional 2,296,205 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new stake in shares of UWM in the 4th quarter valued at about $6,602,000. Geode Capital Management LLC raised its stake in shares of UWM by 47.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company's stock valued at $9,997,000 after purchasing an additional 777,264 shares in the last quarter. Finally, AGF Management Ltd. acquired a new stake in UWM during the second quarter worth about $3,072,000. Institutional investors and hedge funds 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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