UWM (NYSE:UWMC) CEO Sells $2,708,243.72 in Stock

Key Points

• UWM Holdings CEO Ishbia Mat sold 400,036 shares of the company's stock for a total value of $2,708,243.72, reducing his ownership by 17.41%.
• The company recently announced a quarterly dividend of $0.10 per share, with an annualized yield of 5.8%, reflecting ongoing shareholder returns.
• Despite recent share sales, UWM's stock price increased by $0.11 to reach $6.91 on the day following the CEO's significant stock transaction.

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 Wednesday, September 10th. The stock was sold at an average price of $6.77, for a total value of $2,708,243.72. Following the transaction, the chief executive officer owned 1,897,876 shares of the company's stock, valued at approximately $12,848,620.52. This trade represents a 17.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction 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 transaction of $2,324,209.16.
• On Tuesday, September 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.59, for a total transaction 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 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 shares were 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 shares were sold at an average price of $5.60, for a total value 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 stock was sold at an average price of $5.39, for a total value of $2,156,194.04.

UWM Price Performance

Shares of UWMC traded up $0.11 on Thursday, reaching $6.91. 12,674,435 shares of the stock traded hands, compared to its average volume of 8,418,565. The stock's 50-day moving average price is $4.92 and its 200-day moving average price is $4.87. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $9.25.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.10. The firm 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%. On average, research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 dividend on an annualized basis and a yield of 5.8%. UWM's payout ratio is presently -800.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of 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 target price for the company in a research report on Tuesday, July 8th. 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 lowered UWM from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, UWM has a consensus rating of "Hold" and a consensus price target of $5.54.

Hedge Funds Weigh In On UWM

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in UWM by 101.8% in the first 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. Raymond James Financial Inc. acquired a new stake in shares of UWM in the second quarter valued at $35,000. Signaturefd LLC raised its holdings 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 buying an additional 4,693 shares during the last quarter. R Squared Ltd acquired a new position in UWM during the 2nd quarter worth about $51,000. Finally, Quarry LP bought a new stake in UWM during the 1st quarter worth about $53,000. Institutional investors own 53.59% of the company's stock.

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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