UWM (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 approximately $2.31 million, reducing his ownership by 13.80%.
• Despite recent sales, Mat still owns about 2.5 million shares of UWM, valued at roughly $14.44 million post-transaction.
• The company's stock has a current price of $5.70, with a market capitalization of $9.12 billion and a recent earnings per share of $0.16, surpassing analysts' expectations.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.78, for a total value of $2,312,208.08. Following the transaction, the chief executive officer owned 2,498,308 shares in the company, valued at approximately $14,440,220.24. This trade represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.73, for a total value of $2,292,206.28.
• On Wednesday, August 20th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.60, for a total value of $2,240,201.60.
• On Monday, August 18th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.35, for a total value of $2,140,192.60.
• On Friday, August 15th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.39, for a total value of $2,156,194.04.
• On Wednesday, August 13th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.45, for a total value of $2,180,196.20.
• On Monday, August 11th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.58, for a total value of $1,832,164.88.
• 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 stock was 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 stock was sold at an average price of $4.19, for a total value of $1,676,150.84.

UWM Stock Down 3.4%

Shares of NYSE:UWMC traded down $0.20 on Thursday, reaching $5.50. The company had a trading volume of 2,501,257 shares, compared to its average volume of 5,907,320. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average price of $4.56 and a 200 day moving average price of $4.90. The stock has a market capitalization of $8.79 billion, a P/E ratio of -109.90 and a beta of 1.70. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.45.

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

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.3%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is currently -800.00%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays upgraded 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 report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group decreased their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, UWM has an average rating of "Hold" and an average target price of $5.54.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of UWM by 9.9% during the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock worth $381,000 after buying an additional 5,849 shares in the last quarter. Barclays PLC increased its holdings in shares of UWM by 487.6% during the fourth quarter. Barclays PLC now owns 152,912 shares of the company's stock worth $899,000 after buying an additional 126,890 shares in the last quarter. Mariner LLC increased its holdings in shares of UWM by 5.1% during the fourth quarter. Mariner LLC now owns 64,455 shares of the company's stock worth $378,000 after buying an additional 3,126 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of UWM by 58.7% during the fourth quarter. Marshall Wace LLP now owns 232,259 shares of the company's stock worth $1,363,000 after buying an additional 85,889 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings 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 buying an additional 3,349,779 shares in the last quarter. 53.59% of the stock is currently 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.