Insider Selling: UWM (NYSE:UWMC) CEO Sells 1,000,574 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $3.70, for a total value of $3,702,123.80. Following the sale, the chief executive officer owned 12,335,597 shares in the company, valued at $45,641,708.90. The trade was a 7.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, March 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $3.69, for a total transaction of $2,335,305.06.
• On Wednesday, March 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.91, for a total transaction of $2,474,537.34.
• On Monday, March 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $3.78, for a total transaction of $2,392,263.72.
• On Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.11, for a total transaction of $2,601,112.14.
• On Tuesday, March 3rd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.25, for a total value of $2,689,714.50.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.03, for a total value of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.52, for a total value of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.77, for a total value of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.88, for a total value of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.94, for a total value of $3,126,397.56.

UWM Trading Down 0.7%

UWM stock traded down $0.03 during mid-day trading on Monday, hitting $3.64. The stock had a trading volume of 20,354,773 shares, compared to its average volume of 19,650,291. The stock has a 50-day simple moving average of $4.88 and a two-hundred day simple moving average of $5.34. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $5.82 billion, a PE ratio of 60.58 and a beta of 1.90. UWM Holdings Corporation has a 12 month low of $3.62 and a 12 month high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The firm had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. As a group, sell-side analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 11.0%. UWM’s payout ratio is currently 666.67%.

Institutional Trading of UWM

A number of hedge funds have recently modified their holdings of the company. Oak Thistle LLC bought a new position in shares of UWM during the third quarter worth $1,337,000. Vanguard Group Inc. increased its position in shares of UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after buying an additional 1,010,907 shares in the last quarter. Alight Capital Management LP acquired a new stake in UWM during the 3rd quarter worth $3,958,000. Hsbc Holdings PLC acquired a new stake in UWM during the 2nd quarter worth $792,000. Finally, 683 Capital Management LLC bought a new position in UWM during the second quarter worth about $19,872,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UWMC has been the topic of several analyst reports. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a report on Tuesday, January 6th. Zacks Research lowered shares of UWM from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. Compass Point initiated coverage on shares of UWM in a research report on Tuesday, March 10th. They set a “buy” rating and a $8.50 target price for the company. Weiss Ratings raised UWM from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Finally, BTIG Research restated a “buy” rating and issued a $10.00 price target on shares of UWM in a research report on Tuesday, March 10th. Three equities 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.com, UWM has an average rating of “Hold” and a consensus target price of $6.49.

UWM Company Profile

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.