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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12. Following the completion of the transaction, the chief executive officer directly owned 2,174,308 shares in the company, valued at $11,458,603.16. This trade represents a 21.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 value 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 value of $3,220,322.40.
• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.69, for a total value 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 value 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 value of $3,709,334.32.
• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 shares were 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 shares were sold at an average price of $6.23, for a total value 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.

UWM Trading Down 1.9%

NYSE:UWMC opened at $5.34 on Thursday. The business’s 50-day moving average is $5.84 and its two-hundred day moving average is $4.87. 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 12 month low of $3.80 and a 12 month high of $7.56. The firm has a market capitalization of $8.53 billion, a PE ratio of -106.70 and a beta of 1.79.

UWM (NYSE:UWMC) last announced its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. Research analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend was Thursday, September 18th. UWM’s payout ratio is presently -800.00%.

Hedge Funds Weigh In On UWM

A number of hedge funds have recently bought and sold shares of UWMC. GAMMA Investing LLC boosted its stake in UWM by 1,002.0% in the first quarter. GAMMA Investing LLC now owns 32,012 shares of the company’s stock valued at $175,000 after acquiring an additional 29,107 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in UWM by 112.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company’s stock valued at $648,000 after acquiring an additional 62,862 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company’s stock valued at $2,229,000 after acquiring an additional 54,160 shares during the period. Sequoia Financial Advisors LLC acquired a new position in UWM in the first quarter valued at approximately $65,000. Finally, Summit Trail Advisors LLC acquired a new position in UWM in the first quarter valued at approximately $126,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UWMC has been the topic of a number of analyst reports. UBS Group lifted their target price on UWM from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Keefe, Bruyette & Woods lowered UWM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. BTIG Research reaffirmed a “buy” rating and set a $10.00 target price on shares of UWM in a research report on Monday, September 22nd. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. Finally, The Goldman Sachs Group decreased their price target on UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus price target of $6.46.

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.