Ishbia Mat Sells 400,036 Shares of UWM (NYSE:UWMC) Stock

Key Points

• UWM Holdings Corporation CEO Ishbia Mat sold 400,036 shares of UWM stock for a total of $2,236,201.24, resulting in an 8.51% reduction in his ownership of the company.
• The company has announced a quarterly dividend of $0.10 per share, which will be paid on October 9th, reflecting a 7.1% yield based on current stock prices.
• Brokerage firm Barclays upgraded UWM from an "equal weight" to an "overweight" rating, setting a new price target of $6.00 for the stock.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $5.59, for a total transaction of $2,236,201.24. Following the completion of the transaction, the chief executive officer owned 4,298,092 shares in the company, valued at approximately $24,026,334.28. This trade represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, August 29th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.70, for a total transaction 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 transaction of $2,272,204.48.
• 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 transaction of $2,292,206.28.
• On Friday, August 22nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.78, for a total transaction of $2,312,208.08.
• 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 transaction of $2,240,201.60.
• On Monday, August 18th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were 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 shares were 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 shares were 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.

UWM Price Performance

UWMC traded up $0.43 during midday trading on Friday, hitting $6.33. The stock had a trading volume of 11,349,684 shares, compared to its average volume of 9,434,002. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $9.25. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The business has a fifty day moving average of $4.79 and a 200 day moving average of $4.85. The company has a market cap of $10.12 billion, a P/E ratio of -126.50 and a beta of 1.75.

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

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 6.3%. UWM's payout ratio is currently -800.00%.

Hedge Funds Weigh In On UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in UWMC. 683 Capital Management LLC purchased a new stake in UWM in the second quarter worth $19,872,000. Balyasny Asset Management L.P. raised its holdings in UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock worth $24,803,000 after purchasing an additional 3,224,806 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of UWM by 1,144.7% in the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock worth $13,633,000 after purchasing an additional 2,296,205 shares during the period. Azora Capital LP purchased a new stake in shares of UWM in the 2nd quarter worth about $9,032,000. Finally, Bank of America Corp DE boosted 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 in the last quarter. Institutional investors own 53.59% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on UWMC. Keefe, Bruyette & Woods lowered shares of 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 report on Thursday, July 10th. 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. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target on the stock in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and five have issued 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 price target of $5.54.

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.