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

UWM Holdings Co. (NYSE:UWMC) CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the sale, 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 document filed with the SEC, which is available at the SEC website.

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

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

UWM Price Performance

Shares of UWM stock 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 firm has a fifty day simple moving average of $8.67 and a 200-day simple 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 stock has a market capitalization 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same period last year, the business earned $0.11 EPS. On average, sell-side analysts expect that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Thursday, September 19th. UWM’s dividend payout ratio (DPR) is currently 1,333.33%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of UWM by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock worth $421,000 after acquiring an additional 3,207 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in UWM by 124.3% in the 1st quarter. Quadrature Capital Ltd now owns 54,778 shares of the company’s stock valued at $397,000 after purchasing an additional 30,361 shares during the period. SG Americas Securities LLC grew its position in UWM by 1,743.3% in the 2nd quarter. SG Americas Securities LLC now owns 239,830 shares of the company’s stock worth $1,662,000 after purchasing an additional 226,819 shares during the last quarter. Azora Capital LP bought a new position in shares of UWM during the 4th quarter worth about $6,705,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of UWM by 2.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 277,580 shares of the company’s stock valued at $1,985,000 after buying an additional 5,478 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. BTIG Research raised their price objective on shares of UWM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Wedbush lifted their target price on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays increased their price target on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. Finally, UBS Group lifted their price objective on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, UWM currently has an average rating of “Hold” and a consensus target price of $7.39.

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.