Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,476,755.48 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $5.83, for a total value of $3,476,755.48. Following the transaction, the chief executive officer owned 2,414,392 shares of the company’s stock, valued at $14,075,905.36. This represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.70, for a total value of $3,399,229.20.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.87, for a total value of $3,500,609.72.
• 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 Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.56, for a total value of $3,315,739.36.
• 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $5.69, for a total value of $3,393,265.64.

UWM Stock Performance

NYSE:UWMC opened at $5.64 on Thursday. The stock has a market cap of $9.02 billion, a P/E ratio of -112.76 and a beta of 1.79. The stock has a 50 day simple moving average of $5.94 and a 200 day simple moving average of $4.92. 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 Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.14.

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

UWM Announces Dividend

The company 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. This represents a $0.40 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Thursday, September 18th. UWM’s dividend payout ratio (DPR) is presently -800.00%.

Hedge Funds Weigh In On UWM

A number of institutional investors have recently modified their holdings of the business. Balyasny Asset Management L.P. raised its holdings in shares of UWM by 116.6% during the 2nd 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 in the last quarter. 683 Capital Management LLC acquired a new position in shares of UWM during the 2nd quarter worth $19,872,000. Bank of America Corp DE raised its holdings in shares of UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock worth $15,561,000 after buying an additional 1,819,129 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after buying an additional 2,296,205 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of UWM by 47.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock worth $9,997,000 after buying an additional 777,264 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

UWMC has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Morgan Stanley cut UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $4.50 to $6.50 in a report on Monday, September 29th. Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, UBS Group lifted their price objective on UWM from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UWM currently has a consensus rating of “Hold” and a consensus target price of $6.46.

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.