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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $4.94, for a total value of $2,945,998.64. Following the completion of the sale, the chief executive officer directly owned 7,665,408 shares in the company, valued at $37,867,115.52. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, November 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Monday, November 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32.
• On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.18, for a total value of $3,089,124.08.
• On Wednesday, November 5th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total transaction of $3,393,265.64.
• On Monday, November 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.76, for a total transaction of $3,435,010.56.
• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.59, for a total transaction of $3,333,630.04.
• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.70, for a total transaction of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.83, for a total transaction of $3,476,755.48.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.87, for a total transaction of $3,500,609.72.
• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.73, for a total value of $3,417,119.88.

UWM Trading Down 4.4%

NYSE UWMC traded down $0.23 during trading hours on Monday, hitting $4.88. 12,409,248 shares of the company were exchanged, compared to its average volume of 6,830,416. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.14. 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 stock has a 50-day moving average price of $5.88 and a 200 day moving average price of $5.00. The stock has a market cap of $7.80 billion, a PE ratio of -97.50 and a beta of 1.79.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. Analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Thursday, December 18th.

Wall Street Analysts Forecast Growth

UWMC has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $4.50 to $6.50 in a research note on Monday, September 29th. UBS Group upped their price target on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Barclays increased their price objective on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. 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. According to data from MarketBeat, UWM currently has an average rating of “Hold” and an average price target of $6.54.

Institutional Investors Weigh In On UWM

Several large investors have recently added to or reduced their stakes in the stock. AGF Management Ltd. bought a new position in UWM in the second quarter worth approximately $3,072,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UWM by 42.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,845 shares of the company’s stock worth $141,000 after buying an additional 7,687 shares during the period. Cerity Partners LLC bought a new position in shares of UWM during the 1st quarter worth $342,000. Parallel Advisors LLC increased its stake in shares of UWM by 94.6% during the second quarter. Parallel Advisors LLC now owns 29,533 shares of the company’s stock valued at $122,000 after buying an additional 14,358 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of UWM by 769.3% in the first quarter. Russell Investments Group Ltd. now owns 13,413 shares of the company’s stock valued at $73,000 after acquiring an additional 11,870 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other 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.