UWM (NYSE:UWMC) CEO Sells $3,333,630.04 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $5.59, for a total transaction of $3,333,630.04. Following the completion of the transaction, the chief executive officer directly owned 625,324 shares in the company, valued at approximately $3,495,561.16. This represents a 48.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 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 stock was 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 transaction 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 transaction 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 transaction of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.39, for a total transaction of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total transaction of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.34, for a total transaction of $3,184,541.04.

UWM Trading Up 3.6%

Shares of UWMC traded up $0.21 during trading on Monday, reaching $5.84. 10,402,101 shares of the company traded hands, compared to its average volume of 6,605,840. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14. The stock has a market cap of $9.33 billion, a PE ratio of -116.70 and a beta of 1.79. The stock has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $4.93. 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 announced its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The business had revenue of $758.70 million during the quarter, compared to analysts’ expectations of $621.60 million. On average, analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.9%. UWM’s payout ratio is -800.00%.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of research reports. Keefe, Bruyette & Woods cut shares of UWM from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. UBS Group lifted their price objective on shares of UWM from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Friday, October 10th. Barclays lifted their price objective on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Wall Street Zen upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley cut shares of UWM from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $4.50 to $6.50 in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new stake in shares of UWM during the 1st quarter worth approximately $65,000. GAMMA Investing LLC lifted its position in shares of UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after buying an additional 2,958 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of UWM by 42.3% during 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 last quarter. Russell Investments Group Ltd. lifted its position in shares of UWM by 769.3% during the 1st quarter. Russell Investments Group Ltd. now owns 13,413 shares of the company’s stock worth $73,000 after buying an additional 11,870 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of UWM during the 1st quarter worth approximately $342,000. 53.59% of the stock is owned by institutional investors and hedge funds.

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.