Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,335,245.98 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $5.27, for a total transaction of $3,335,245.98. Following the transaction, the chief executive officer owned 3,149,753 shares of the company’s stock, valued at $16,599,198.31. The trade was a 16.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, January 12th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.35, for a total value of $3,385,875.90.
• On Wednesday, January 7th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.70, for a total value of $2,974,507.80.
• On Monday, January 5th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.43, for a total value of $2,803,631.82.
• On Friday, January 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total value of $2,797,303.08.
• On Wednesday, December 31st, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.37, for a total value of $2,765,659.38.
• On Monday, December 29th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total value of $2,797,303.08.
• On Friday, December 26th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.57, for a total transaction of $2,892,234.18.
• On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The shares were sold at an average price of $4.66, for a total transaction of $2,096,986.02.
• On Tuesday, December 23rd, Ishbia Mat sold 402,483 shares of UWM stock. The stock was sold at an average price of $4.70, for a total transaction of $1,891,670.10.
• On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.47, for a total transaction of $3,349,209.89.

UWM Stock Performance

Shares of UWMC opened at $5.46 on Thursday. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14. The firm has a 50 day moving average of $5.14 and a 200 day moving average of $5.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. UWM had a net margin of 0.61% and a negative return on equity of 6.81%. Analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.3%. The ex-dividend date was Thursday, December 18th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC grew its position in shares of UWM by 45.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 29,394 shares of the company’s stock valued at $129,000 after acquiring an additional 9,125 shares during the period. 180 Wealth Advisors LLC raised its holdings in UWM by 40.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 159,073 shares of the company’s stock worth $697,000 after purchasing an additional 45,829 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in UWM by 30.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 274,453 shares of the company’s stock valued at $1,239,000 after purchasing an additional 63,449 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new stake in UWM during the fourth quarter valued at about $67,000. Finally, Tudor Investment Corp ET AL purchased a new stake in UWM in the third quarter worth about $12,237,000. 53.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UWMC shares. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Barclays raised their target price on shares of UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. UBS Group boosted their target price on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.53.

About UWM

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.