Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,315,739.36 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $5.56, for a total value of $3,315,739.36. Following the sale, the chief executive officer directly owned 5,992,528 shares in the company, valued at $33,318,455.68. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.73, for a total value of $3,417,119.88.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.37, for a total value of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.39, for a total value of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.34, for a total value of $3,184,541.04.
• On Wednesday, October 8th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.40, for a total value of $3,220,322.40.
• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total value of $3,393,265.64.
• On Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.99, for a total value of $3,572,172.44.
• On Wednesday, October 1st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.22, for a total value of $3,709,334.32.
• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.11, for a total value of $3,643,735.16.

UWM Trading Up 1.0%

Shares of UWM stock opened at $5.72 on Thursday. The stock has a fifty day simple moving average of $5.91 and a 200 day simple moving average of $4.87. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $7.14. The company has a market capitalization of $9.14 billion, a P/E ratio of -114.30 and a beta of 1.79. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. On average, sell-side analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 7.0%. UWM’s dividend payout ratio is -800.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UWMC shares. UBS Group upped their price objective on UWM from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. The Goldman Sachs Group dropped their price target on UWM from $6.00 to $5.25 and set a “neutral” rating on the stock in a research report on Wednesday, July 2nd. Morgan Stanley lowered UWM from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $4.50 to $6.50 in a research note on Monday, September 29th. BTIG Research restated a “buy” rating and issued a $10.00 target price on shares of UWM in a research report on Monday, September 22nd. Finally, Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.46.

Institutional Trading of UWM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 683 Capital Management LLC acquired a new position in UWM in the 2nd quarter worth about $19,872,000. Balyasny Asset Management L.P. grew its holdings in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after buying an additional 3,224,806 shares during the last quarter. AQR Capital Management LLC lifted its position in UWM by 1,144.7% in the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock valued at $13,633,000 after purchasing an additional 2,296,205 shares during the period. Azora Capital LP acquired a new position in shares of UWM during the 2nd quarter worth approximately $9,032,000. Finally, Bank of America Corp DE grew its stake in UWM by 93.8% in the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock worth $15,561,000 after acquiring an additional 1,819,129 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.