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

Key Points

• UWM CEO Ishbia Mat sold 596,356 shares of the company's stock on September 29th for a total of approximately $3.6 million, significantly reducing his holdings by 30.83%.
• The company recently reported earnings of $0.16 EPS, exceeding expectations, with revenue of $758.70 million for the quarter.
• UWM declared a quarterly dividend of $0.10 per share, scheduled for payment on October 9th, indicating a 6.4% annual yield.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $6.11, for a total value of $3,643,735.16. Following the transaction, the chief executive officer directly owned 1,337,868 shares in the company, valued at approximately $8,174,373.48. The trade was a 30.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, September 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.42, for a total value of $3,828,605.52.
• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• 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 stock was sold at an average price of $5.81, for a total value of $2,324,209.16.

UWM Stock Performance

UWM stock traded down $0.02 during mid-day trading on Monday, reaching $6.23. 9,660,066 shares of the company's stock were exchanged, compared to its average volume of 6,217,238. The business's fifty day simple moving average is $5.49 and its 200 day simple moving average is $4.88. The firm has a market capitalization of $9.96 billion, a PE ratio of -124.50 and a beta of 1.75. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $8.64. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings results 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, sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 6.4%. The ex-dividend date is Thursday, September 18th. UWM's dividend payout ratio (DPR) is -800.00%.

Institutional Trading of UWM

Several hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. raised its stake in shares of UWM by 24.0% during the 2nd quarter. Osaic Holdings Inc. now owns 43,793 shares of the company's stock valued at $181,000 after purchasing an additional 8,473 shares during the period. EVR Research LP bought a new stake in shares of UWM during the 2nd quarter valued at $4,189,000. Brevan Howard Capital Management LP raised its stake in shares of UWM by 227.8% during the 2nd quarter. Brevan Howard Capital Management LP now owns 601,168 shares of the company's stock valued at $2,489,000 after purchasing an additional 417,789 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of UWM by 116.6% during 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. Finally, Bank of America Corp DE raised its stake in shares of UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock valued at $15,561,000 after purchasing an additional 1,819,129 shares during the period. 53.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UWMC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered UWM from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price 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 on the stock in a research note on Wednesday, July 2nd. Finally, BTIG Research restated a "buy" rating and issued a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, UWM has an average rating of "Hold" and an average price target of $6.18.

UWM Company Profile

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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