UWM (NYSE:UWMC) CEO Ishbia Mat Sells 596,356 Shares

Key Points

• Ishbia Mat, the CEO of UWM Holdings Corporation, sold 596,356 shares on September 22nd at an average price of $6.23, which marked a 12.13% decrease in his ownership stake in the company.
• The company recently announced a quarterly dividend of $0.10 per share, with a yield of 6.3%, scheduled for payment on October 9th.
• UWM's stock has a 52-week range of $3.80 to $8.73, with a current market capitalization of approximately $10.10 billion.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $6.23, for a total value of $3,715,297.88. Following the completion of the sale, the chief executive officer directly owned 4,319,648 shares of the company's stock, valued at approximately $26,911,407.04. This trade represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.45, for a total value of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 shares were sold at an average price of $6.84, for a total value of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The shares were sold at an average price of $6.88, for a total value of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were 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 shares were 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 shares were 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.

UWM Stock Performance

UWMC traded down $0.09 on Monday, hitting $6.32. 12,569,814 shares of the stock traded hands, compared to its average volume of 6,188,510. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $8.73. 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 firm has a market capitalization of $10.10 billion, a PE ratio of -126.30 and a beta of 1.76. The business has a fifty day moving average price of $5.28 and a two-hundred day moving average price of $4.87.

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

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Thursday, September 18th. UWM's payout ratio is presently -800.00%.

Institutional Trading of UWM

Several hedge funds and other institutional investors have recently modified their holdings of the company. Balyasny Asset Management L.P. raised its stake in shares of UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after purchasing an additional 3,224,806 shares during the period. 683 Capital Management LLC acquired a new stake in shares of UWM in the second quarter valued at approximately $19,872,000. Bank of America Corp DE lifted its position in shares of UWM by 93.8% in the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock valued at $15,561,000 after buying an additional 1,819,129 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of UWM by 47.5% during the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company's stock worth $9,997,000 after acquiring an additional 777,264 shares during the period. Institutional investors and hedge funds own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on UWMC. Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target on the stock in a research note on Tuesday, July 8th. The Goldman Sachs Group lowered 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. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods downgraded UWM from an "outperform" rating to a "market perform" rating and cut their price target for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, UWM presently has an average 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.

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