Key Points
- CEO Ishbia Mat sold 612,287 shares on Dec. 10 at $5.60 for $3.43M and has executed multiple large sales in Nov–Dec, reducing his stake by about 11% to 4,955,547 shares.
- UWM missed quarterly estimates, reporting $0.01 EPS versus $0.07 expected and revenue of $151.14M versus $651.51M expected, signaling weaker-than-anticipated results.
- The company announced a quarterly dividend of $0.10 per share (annualized $0.40, a 7.1% yieldHold with an average target of $6.54.
UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 612,287 shares of UWM stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $5.60, for a total transaction of $3,428,807.20. Following the transaction, the chief executive officer directly owned 4,955,547 shares in the company, valued at $27,751,063.20. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Ishbia Mat also recently made the following trade(s):
- On Monday, December 8th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.67, for a total transaction of $3,471,667.29.
- On Friday, December 5th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.78, for a total value of $3,539,018.86.
- On Wednesday, December 3rd, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.71, for a total value of $3,496,158.77.
- On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.80, for a total value of $3,551,264.60.
- On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The shares were sold at an average price of $5.85, for a total transaction of $2,556,877.05.
- On Wednesday, November 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.81, for a total transaction of $3,464,828.36.
- On Monday, November 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.21, for a total transaction of $3,107,014.76.
- On Friday, November 21st, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.09, for a total value of $3,035,452.04.
- On Wednesday, November 19th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $4.96, for a total value of $2,957,925.76.
- On Monday, November 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $4.94, for a total transaction of $2,945,998.64.
UWM Trading Up 1.5%
Shares of UWMC stock opened at $5.64 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.45 and a current ratio of 1.45. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The company has a 50 day moving average price of $5.52 and a 200 day moving average price of $5.14.
UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The company had revenue of $151.14 million for the quarter, compared to analysts' expectations of $651.51 million. UWM had a negative return on equity of 6.81% and a net margin of 0.61%. Sell-side analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.
UWM Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.1%.
Institutional Investors Weigh In On UWM
A number of hedge funds have recently added to or reduced their stakes in UWMC. Cetera Investment Advisers lifted its position in shares of UWM by 8.1% during the 1st quarter. Cetera Investment Advisers now owns 93,722 shares of the company's stock valued at $512,000 after acquiring an additional 6,988 shares during the period. Swiss National Bank increased its stake in UWM by 38.6% during the first quarter. Swiss National Bank now owns 244,700 shares of the company's stock worth $1,336,000 after acquiring an additional 68,100 shares during the last quarter. Invesco Ltd. raised its stake in shares of UWM by 19.0% in the 1st quarter. Invesco Ltd. now owns 130,400 shares of the company's stock valued at $712,000 after acquiring an additional 20,816 shares during the period. Aigen Investment Management LP raised its holdings in shares of UWM by 285.2% during the 1st quarter. Aigen Investment Management LP now owns 51,009 shares of the company's stock valued at $279,000 after buying an additional 37,767 shares during the period. Finally, Nuveen LLC purchased a new stake in UWM during the 1st quarter worth $1,191,000. Institutional investors and hedge funds own 53.59% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 7th. Morgan Stanley cut shares of UWM from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. BTIG Research reissued a "buy" rating and issued a $10.00 target price on shares of UWM in a report on Monday, September 22nd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a report on Wednesday, October 8th. Finally, UBS Group boosted their target price on UWM from $5.50 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, UWM presently has an average rating of "Hold" and an average target price of $6.54.
Check Out Our Latest Stock Report on UWM
About UWM
(
Get Free Report)
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.
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