UWM Holdings Co. (NYSE:UWMC) CEO Ishbia Mat Sells 1,200,000 Shares

UWM Holdings Co. (NYSE:UWMC) CEO Ishbia Mat sold 1,200,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.45, for a total value of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 30th, Ishbia Mat sold 5,000,000 shares of UWM stock. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00.

UWM Stock Performance

NYSE UWMC opened at $8.92 on Thursday. UWM Holdings Co. has a 1-year low of $4.49 and a 1-year high of $9.74. The company has a 50 day moving average of $8.67 and a 200-day moving average of $7.51. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The firm has a market cap of $852.56 million, a price-to-earnings ratio of 297.33 and a beta of 1.63.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same period last year, the company earned $0.11 earnings per share. On average, equities analysts forecast that UWM Holdings Co. will post 0.28 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.40 annualized dividend and a yield of 4.48%. UWM’s dividend payout ratio (DPR) is 1,333.33%.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently added to or reduced their stakes in UWMC. ORG Partners LLC acquired a new position in shares of UWM during the first quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its holdings in UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after buying an additional 3,309 shares in the last quarter. CWM LLC boosted its position in UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after buying an additional 3,177 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of UWM in the 2nd quarter valued at $52,000. Finally, Quadrant Capital Group LLC raised its position in shares of UWM by 63.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock worth $55,000 after acquiring an additional 2,952 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UWMC. Keefe, Bruyette & Woods raised their price objective on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. UBS Group raised their price target on shares of UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. The Goldman Sachs Group upped their price objective on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Barclays increased their target price on UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. Finally, Wedbush boosted their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, UWM has a consensus rating of “Hold” and a consensus target price of $7.39.

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.