UWM Holdings Co. (NYSE:UWMC) CEO Sells $10,140,000.00 in Stock

UWM Holdings Co. (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction on 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 in the company, valued at $1,449,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Stock Performance

Shares of NYSE:UWMC traded down $0.02 during trading on Wednesday, hitting $8.92. 3,714,587 shares of the company were exchanged, compared to its average volume of 1,652,741. The company has a market cap of $852.56 million, a PE ratio of 297.33 and a beta of 1.63. UWM Holdings Co. has a 52-week low of $4.49 and a 52-week high of $9.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a 50 day moving average of $8.67 and a 200 day moving average of $7.51.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $507.09 million during the quarter, compared to analyst estimates of $540.31 million. During the same period in the prior year, the company posted $0.11 EPS. As a group, equities research analysts predict that UWM Holdings Co. will post 0.28 EPS for the current year.

UWM Dividend Announcement

The company 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 dividend of $0.10 per share. 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 presently 1,333.33%.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently bought and sold shares of UWMC. Susquehanna Fundamental Investments LLC grew its position in shares of UWM by 334.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 224,681 shares of the company's stock valued at $1,557,000 after purchasing an additional 172,969 shares in the last quarter. AQR Capital Management LLC grew its position in UWM by 203.7% during the second quarter. AQR Capital Management LLC now owns 258,883 shares of the company's stock worth $1,784,000 after buying an additional 173,652 shares in the last quarter. Squarepoint Ops LLC increased its stake in UWM by 24.5% in the 2nd quarter. Squarepoint Ops LLC now owns 342,322 shares of the company's stock worth $2,372,000 after acquiring an additional 67,383 shares during the last quarter. Xponance Inc. purchased a new stake in shares of UWM in the 2nd quarter valued at about $76,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of UWM during the 2nd quarter valued at about $93,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BTIG Research boosted their target price on shares of UWM from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. UBS Group upped their price objective on UWM from $4.50 to $4.75 and gave the company a "sell" rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods increased their price objective on UWM from $7.00 to $8.00 and gave the company a "market perform" rating in a report on Wednesday, August 7th. Barclays boosted their target price on UWM from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Tuesday, July 9th. Finally, Wedbush increased their price target on UWM from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Two research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.