UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat Sells 400,036 Shares

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $4.10, for a total value of $1,640,147.60. Following the completion of the sale, the chief executive officer now owns 2,899,856 shares of the company’s stock, valued at approximately $11,889,409.60. This trade represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.02, for a total value of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Price Performance

UWM stock traded up $0.18 during midday trading on Monday, hitting $4.22. 9,504,186 shares of the company were exchanged, compared to its average volume of 3,617,864. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $9.74. The business has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $5.35. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. The business had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. Research analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.48%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM’s payout ratio is currently -307.69%.

Analyst Ratings Changes

Several brokerages have recently issued reports on UWMC. Keefe, Bruyette & Woods reduced their price objective on UWM from $7.50 to $6.50 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Wedbush restated a “neutral” rating and issued a $6.50 price objective on shares of UWM in a research note on Monday, March 3rd. Finally, UBS Group raised UWM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.86.

Institutional Trading of UWM

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after purchasing an additional 3,212,081 shares during the period. First Trust Advisors LP boosted its stake in shares of UWM by 886.9% in the fourth quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock worth $21,880,000 after acquiring an additional 3,349,779 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of UWM by 1,144.7% in the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after acquiring an additional 2,296,205 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new stake in shares of UWM in the fourth quarter worth approximately $6,602,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of UWM by 15.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company’s stock worth $6,386,000 after acquiring an additional 147,459 shares during the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

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.