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 company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $4.13, for a total value of $1,652,148.68. Following the completion of the transaction, the chief executive officer directly owned 899,676 shares in the company, valued at approximately $3,715,661.88. This represents a 30.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 shares were 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 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 Price Performance

Shares of UWM stock traded down $0.02 during trading on Friday, reaching $4.27. 4,908,584 shares of the company's stock were exchanged, compared to its average volume of 3,795,678. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.50 and a current ratio of 1.50. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $9.74. The company has a market cap of $6.83 billion, a P/E ratio of -32.85 and a beta of 1.68. The firm's 50-day moving average price is $4.23 and its 200 day moving average price is $5.23.

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

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors 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 yield of 9.37%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM's dividend payout ratio is -307.69%.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. GAMMA Investing LLC increased 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 worth $32,000 after buying an additional 2,958 shares in the last quarter. Sherbrooke Park Advisers LLC grew its position in UWM by 17.4% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company's stock worth $118,000 after acquiring an additional 2,975 shares during the last quarter. Mariner LLC increased its holdings in UWM by 5.1% in the 4th quarter. Mariner LLC now owns 64,455 shares of the company's stock worth $378,000 after purchasing an additional 3,126 shares in the last quarter. Victory Capital Management Inc. raised its position in UWM by 20.7% in the fourth quarter. Victory Capital Management Inc. now owns 20,330 shares of the company's stock valued at $119,000 after purchasing an additional 3,488 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of UWM by 13.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company's stock valued at $174,000 after purchasing an additional 3,524 shares in the last quarter. Institutional investors own 53.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UWMC. UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and cut their target price for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price target on UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $6.75.

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.