UWM (NYSE:UWMC) CEO Sells 596,356 Shares

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $5.81, for a total transaction of $3,464,828.36. Following the transaction, the chief executive officer directly owned 3,490,916 shares of the company’s stock, valued at $20,282,221.96. This represents a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The stock was sold at an average price of $5.85, for a total transaction of $2,556,877.05.
• On Monday, November 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 value 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 value 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 transaction 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 shares were sold at an average price of $5.76, for a total transaction of $3,435,010.56.

UWM Stock Performance

Shares of UWM stock traded up $0.09 during trading hours on Friday, reaching $5.86. The company had a trading volume of 3,647,804 shares, compared to its average volume of 6,874,220. The firm has a market cap of $9.37 billion, a PE ratio of -117.10 and a beta of 1.79. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.14. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The business has a fifty day simple moving average of $5.62 and a 200 day simple moving average of $5.04.

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

UWM Dividend Announcement

The firm 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.8%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UWMC. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. UBS Group increased their price target on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of UWM in a report on Monday, September 22nd. Barclays upped their target price 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. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.54.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. AGF Management Ltd. purchased a new position in shares of UWM during the second quarter valued at approximately $3,072,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in UWM by 42.3% in the first 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. Parallel Advisors LLC grew its holdings in shares of UWM by 94.6% during the 2nd quarter. Parallel Advisors LLC now owns 29,533 shares of the company’s stock worth $122,000 after acquiring an additional 14,358 shares during the period. Russell Investments Group Ltd. raised its position in shares of UWM by 769.3% in the 1st quarter. Russell Investments Group Ltd. now owns 13,413 shares of the company’s stock worth $73,000 after acquiring an additional 11,870 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of UWM by 437.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,444 shares of the company’s stock worth $503,000 after acquiring an additional 98,837 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.