UWM (NYSE:UWMC) CEO Sells $3,828,605.52 in Stock

Key Points

• UWM Holdings Corporation CEO Ishbia Mat sold 596,356 shares of the company stock for $3,828,605.52, reducing his ownership by 16.02% to approximately 3.1 million shares valued at around $20 million.
• The company recently announced a quarterly dividend of $0.10 per share, with an ex-dividend date of September 18th, representing a 6.2% yield.
• UWM's stock has fluctuated between a one-year low of $3.80 and a high of $8.64, with the current trading price around $6.43.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $6.42, for a total value of $3,828,605.52. Following the sale, the chief executive officer owned 3,126,936 shares of the company's stock, valued at approximately $20,074,929.12. The trade was a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 transaction 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 transaction of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was 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 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 stock was 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 stock was 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 shares were sold at an average price of $5.70, for a total value of $2,280,205.20.

UWM Stock Performance

NYSE UWMC traded up $0.03 during trading hours on Wednesday, reaching $6.43. 5,815,586 shares of the company were exchanged, compared to its average volume of 6,190,445. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The business's 50 day simple moving average is $5.36 and its 200-day simple moving average is $4.88. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $8.64. The stock has a market capitalization of $10.28 billion, a P/E ratio of -128.50 and a beta of 1.76.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) 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 analysts' expectations of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. On average, equities research analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.2%. UWM's dividend payout ratio (DPR) is -800.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upgraded shares of 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 raised UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group reduced their price target on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods downgraded UWM from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Finally, BTIG Research reiterated a "buy" rating and set a $10.00 price target on shares of UWM in a report on Monday. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.18.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. boosted its holdings in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock worth $24,803,000 after buying an additional 3,224,806 shares during the last quarter. 683 Capital Management LLC purchased a new stake in UWM in the 2nd quarter worth $19,872,000. Bank of America Corp DE grew its position in shares of UWM by 93.8% during the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock worth $15,561,000 after purchasing an additional 1,819,129 shares in the last quarter. AQR Capital Management LLC grew its position 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 purchasing an additional 2,296,205 shares in the last quarter. Finally, Geode Capital Management LLC grew its position 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 purchasing an additional 777,264 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

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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