Ishbia Mat Sells 400,056 Shares of UWM (NYSE:UWMC) Stock

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 400,056 shares of the company at an average price of $6.88, totaling approximately $2.75 million, which represents a 26.71% decrease in his position.
• UWM recently announced a $0.10 quarterly dividend to be paid on October 9th, with the ex-dividend date set for September 18th, reflecting a 5.9% annualized yield.
• The company's stock performance shows a 52-week range between $3.80 and $9.25, with shares trading at $6.76, indicating recent trading volume of over 7.5 million shares.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,056 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $6.88, for a total value of $2,752,385.28. Following the completion of the transaction, the chief executive officer directly owned 1,097,784 shares of the company's stock, valued at $7,552,753.92. The trade was a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.84, for a total value of $4,079,075.04.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.77, for a total value of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.44, for a total value of $2,576,231.84.
• On Thursday, September 4th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.81, for a total value of $2,324,209.16.
• On Tuesday, September 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.59, for a total value of $2,236,201.24.
• On Friday, August 29th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.70, for a total value of $2,280,205.20.
• On Wednesday, August 27th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.68, for a total value of $2,272,204.48.
• On Monday, August 25th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.73, for a total value of $2,292,206.28.
• On Friday, August 22nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.78, for a total value of $2,312,208.08.

UWM Price Performance

NYSE UWMC traded down $0.16 during trading hours on Friday, reaching $6.41. 14,707,430 shares of the stock traded hands, compared to its average volume of 7,591,485. The stock has a 50 day simple moving average of $5.28 and a two-hundred day simple moving average of $4.89. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $8.73. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $10.25 billion, a price-to-earnings ratio of -128.20 and a beta of 1.76.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings results 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. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. On average, analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.2%. UWM's dividend payout ratio (DPR) is presently -800.00%.

Institutional Trading of UWM

Several large investors have recently bought and sold shares of UWMC. GAMMA Investing LLC boosted its position in shares of UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after purchasing an additional 2,958 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its position in shares of UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company's stock worth $118,000 after purchasing an additional 2,975 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of UWM by 13.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company's stock worth $174,000 after purchasing an additional 3,524 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of UWM by 10.9% in the 1st quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company's stock worth $241,000 after purchasing an additional 4,336 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of UWM by 23.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company's stock worth $99,000 after purchasing an additional 4,552 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.