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 firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the sale, the chief executive officer now directly owns 171,520 shares of the company’s stock, valued at approximately $1,449,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $9.11, for a total value of $45,550,000.00.

UWM Price Performance

NYSE UWMC opened at $8.39 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $801.90 million, a P/E ratio of 279.67 and a beta of 1.63. The company has a 50-day moving average price of $8.70 and a 200-day moving average price of $7.53. UWM Holdings Co. has a 52 week low of $4.49 and a 52 week high of $9.74.

UWM (NYSE:UWMC) last announced its earnings results on Tuesday, August 6th. The company reported $0.04 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 analyst estimates of $540.31 million. During the same period in the prior year, the company posted $0.11 earnings per share. Equities research analysts anticipate that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 4.77%. UWM’s dividend payout ratio is currently 1,333.33%.

Institutional Trading of UWM

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of UWM by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,948 shares of the company’s stock valued at $421,000 after buying an additional 3,207 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in UWM by 124.3% during the first 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 in the last quarter. SG Americas Securities LLC boosted its position in shares of UWM by 1,743.3% in the second 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 period. Azora Capital LP purchased a new stake in shares of UWM in the fourth quarter worth $6,705,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of UWM by 2.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 277,580 shares of the company’s stock valued at $1,985,000 after purchasing an additional 5,478 shares during the period. Institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Wedbush boosted their target price on UWM from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group raised their price target on shares of UWM from $4.50 to $4.75 and gave the company a “sell” rating in a report on Thursday, September 5th. BTIG Research lifted their price target on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group increased their price objective on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, UWM presently has a consensus rating of “Hold” and a consensus price target 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.