UWM (NYSE:UWMC) CEO Sells $4,079,075.04 in Stock

Key Points

• Ishbia Mat, the CEO of UWM Holdings, sold 596,356 shares of the company stock for approximately $4.08 million, reducing his ownership by 7.55%.
• Despite the sales, Ishbia Mat still holds 7.3 million shares valued around $49.94 million.
• UWM recently announced a $0.10 quarterly dividend, aiming for a yield of 5.9%, with the ex-dividend date on September 18th.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $6.84, for a total value of $4,079,075.04. Following the completion of the transaction, the chief executive officer owned 7,301,428 shares in the company, valued at $49,941,767.52. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 shares were sold at an average price of $5.81, for a total value 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 value 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.
• On Wednesday, August 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.68, for a total value 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 value 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 value 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 value of $2,240,201.60.

UWM Stock Down 1.4%

Shares of NYSE:UWMC traded down $0.10 during mid-day trading on Monday, reaching $6.76. The stock had a trading volume of 7,563,359 shares, compared to its average volume of 8,013,398. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $9.25. The business's 50 day moving average price is $5.03 and its 200 day moving average price is $4.86.

UWM (NYSE:UWMC - Get Free Report) last posted its 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 company had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. Sell-side analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is currently -800.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UWMC shares. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. The Goldman Sachs Group decreased their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, July 2nd. Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective on the stock in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods downgraded UWM from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.54.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of UWM by 24.0% during the second quarter. Osaic Holdings Inc. now owns 43,793 shares of the company's stock valued at $181,000 after buying an additional 8,473 shares during the last quarter. EVR Research LP bought a new position in shares of UWM during the second quarter valued at approximately $4,189,000. Brevan Howard Capital Management LP grew its stake in shares of UWM by 227.8% during the second quarter. Brevan Howard Capital Management LP now owns 601,168 shares of the company's stock valued at $2,489,000 after buying an additional 417,789 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after buying an additional 3,224,806 shares during the last quarter. Finally, Bank of America Corp DE grew its stake 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 valued at $15,561,000 after buying an additional 1,819,129 shares during the last quarter. 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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