UWM (NYSE:UWMC) CEO Sells $3,500,609.72 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $5.87, for a total value of $3,500,609.72. Following the completion of the sale, the chief executive officer owned 3,607,104 shares of the company’s stock, valued at approximately $21,173,700.48. This trade represents a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 value 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 value of $3,476,755.48.
• 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.
• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.56, for a total value of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.37, for a total value of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.39, for a total value of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12.
• 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.

UWM Stock Down 3.5%

Shares of UWMC stock opened at $5.64 on Thursday. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.14. The firm has a market cap of $9.02 billion, a PE ratio of -112.76 and a beta of 1.79. The stock has a 50 day moving average of $5.94 and a 200-day moving average of $4.92. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85.

UWM (NYSE:UWMC) last issued its quarterly 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 during the quarter, compared to analyst estimates of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. On average, equities analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.1%. UWM’s payout ratio is currently -800.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UWMC. Morgan Stanley cut UWM from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $4.50 to $6.50 in a research report on Monday, September 29th. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. UBS Group boosted their price objective on UWM from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Friday, October 10th. BTIG Research restated a “buy” rating and set a $10.00 price objective on shares of UWM in a research report on Monday, September 22nd. Finally, Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $6.46.

Institutional Trading of UWM

A number of large investors have recently bought and sold shares of UWMC. 683 Capital Management LLC bought a new stake in UWM in the second quarter valued at $19,872,000. Balyasny Asset Management L.P. grew its holdings 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 worth $24,803,000 after purchasing an additional 3,224,806 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after purchasing an additional 2,296,205 shares during the last quarter. Azora Capital LP bought a new stake in shares of UWM during the second quarter worth $9,032,000. Finally, Bank of America Corp DE grew its holdings 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 worth $15,561,000 after purchasing an additional 1,819,129 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

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.