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

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 596,356 shares of the company's stock on October 15th for approximately $3.21 million, reducing his ownership by 7.12%.
• UWM's stock price fell 0.6% to $5.29, with a market cap of $8.46 billion and a high of $7.43 over the past year.
• The company recently declared a quarterly dividend of $0.10 per share, reflecting an annualized yield of 7.6%, with a payout ratio of -800.00%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the company's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $5.39, for a total value of $3,214,358.84. Following the transaction, the chief executive officer directly owned 7,781,596 shares in the company, valued at $41,942,802.44. The trade was a 7.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.34, for a total transaction of $3,184,541.04.
• On Wednesday, October 8th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.40, for a total transaction of $3,220,322.40.
• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total transaction of $3,393,265.64.
• On Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.99, for a total transaction of $3,572,172.44.
• On Wednesday, October 1st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.22, for a total transaction of $3,709,334.32.
• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.11, for a total value of $3,643,735.16.
• On Friday, September 26th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was 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 stock was sold at an average price of $6.23, for a total value of $3,715,297.88.

UWM Stock Down 0.6%

UWMC traded down $0.03 during midday trading on Thursday, hitting $5.29. 10,320,966 shares of the company's stock traded hands, compared to its average volume of 9,338,794. 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 $8.46 billion, a PE ratio of -105.80 and a beta of 1.79. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.43. The stock's fifty day simple moving average is $5.86 and its 200-day simple moving average is $4.87.

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. The business had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. As a group, equities analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 7.6%. UWM's dividend payout ratio is presently -800.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on UWMC. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. Morgan Stanley downgraded UWM from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $4.50 to $6.50 in a research report on Monday, September 29th. Zacks Research upgraded UWM from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 7th. Finally, BTIG Research restated a "buy" rating and set a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, UWM presently has an average rating of "Hold" and a consensus target price of $6.46.

Institutional Investors Weigh In On UWM

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after acquiring an additional 2,958 shares during the period. Raymond James Financial Inc. bought a new stake in shares of UWM during the second quarter valued at approximately $35,000. Signaturefd LLC raised its stake in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after purchasing an additional 4,693 shares in the last quarter. R Squared Ltd bought a new position in UWM in the second quarter worth $51,000. Finally, Quarry LP acquired a new stake in UWM during the first quarter worth $53,000. Institutional investors own 53.59% of the company's stock.

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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