Ishbia Mat Sells 612,287 Shares of UWM (NYSE:UWMC) Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 612,287 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $5.71, for a total transaction of $3,496,158.77. Following the completion of the transaction, the chief executive officer directly owned 8,016,982 shares of the company’s stock, valued at approximately $45,776,967.22. This represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.80, for a total value of $3,551,264.60.
• On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The shares were sold at an average price of $5.85, for a total transaction of $2,556,877.05.
• On Wednesday, November 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.81, for a total transaction of $3,464,828.36.
• On Monday, November 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.21, for a total value of $3,107,014.76.
• On Friday, November 21st, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.09, for a total transaction of $3,035,452.04.
• On Wednesday, November 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $4.96, for a total transaction of $2,957,925.76.
• On Monday, November 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $4.94, for a total value of $2,945,998.64.
• 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 shares were sold at an average price of $5.47, for a total transaction of $3,262,067.32.
• On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.18, for a total value of $3,089,124.08.

UWM Stock Up 0.3%

NYSE UWMC traded up $0.02 during mid-day trading on Wednesday, hitting $5.66. The stock had a trading volume of 5,460,569 shares, compared to its average volume of 6,885,269. The firm’s 50 day moving average is $5.59 and its 200 day moving average is $5.09. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40.

UWM (NYSE:UWMC) last released its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. UWM had a negative return on equity of 6.81% and a net margin of 0.61%. As a group, equities research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, December 18th.

Institutional Investors Weigh In On UWM

Several institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after purchasing an additional 4,091 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after buying an additional 4,344 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of UWM in the 3rd quarter valued at $38,000. Raymond James Financial Inc. purchased a new position in shares of UWM in the 2nd quarter valued at $35,000. Finally, Quarry LP acquired a new stake in UWM during the 1st quarter worth $53,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UWMC. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. BTIG Research restated a “buy” rating and issued a $10.00 price objective on shares of UWM in a report on Monday, September 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Barclays upped their price objective on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Finally, Wall Street Zen lowered UWM from a “hold” rating to a “strong sell” rating in a report on Saturday, November 15th. Two 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, the company currently has a consensus rating of “Hold” and an average price target of $6.54.

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.