UWM (NYSE:UWMC) Sets New 1-Year Low After Insider Selling

UWM Holdings Corporation (NYSE:UWMC)’s share price reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $3.40 and last traded at $3.4250, with a volume of 473574 shares trading hands. The stock had previously closed at $3.53.

Specifically, CEO Ishbia Mat sold 1,000,574 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $3.55, for a total value of $3,552,037.70. Following the transaction, the chief executive officer owned 5,331,579 shares in the company, valued at approximately $18,927,105.45. The trade was a 15.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ishbia Mat sold 1,000,574 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $3.72, for a total value of $3,722,135.28. Following the transaction, the chief executive officer directly owned 6,332,153 shares of the company’s stock, valued at $23,555,609.16. The trade was a 13.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In other UWM news, CEO Ishbia Mat sold 1,000,574 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $3.60, for a total transaction of $3,602,066.40. Following the transaction, the chief executive officer directly owned 8,333,301 shares of the company’s stock, valued at approximately $29,999,883.60. The trade was a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

UWMC has been the subject of several research analyst reports. Compass Point started coverage on shares of UWM in a research report on Tuesday, March 10th. They issued a “buy” rating and a $8.50 target price for the company. Weiss Ratings raised shares of UWM from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, February 26th. Jefferies Financial Group set a $4.40 price objective on shares of UWM in a report on Wednesday, February 25th. Morgan Stanley set a $6.00 price objective on UWM in a research report on Tuesday, December 16th. Finally, Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Three 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.49.

UWM Trading Down 2.5%

The firm’s 50 day moving average price is $4.67 and its 200-day moving average price is $5.22. The stock has a market cap of $5.50 billion, a P/E ratio of 57.25 and a beta of 1.90. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.52 and a quick ratio of 1.52.

UWM (NYSE:UWMC) last announced its quarterly earnings results 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 net margin of 0.87% and a negative return on equity of 1.35%. The firm had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. As a group, equities research analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 11.6%. UWM’s dividend payout ratio (DPR) is presently 666.67%.

Hedge Funds Weigh In On UWM

A number of hedge funds have recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after acquiring an additional 4,091 shares in the last quarter. GAMMA Investing LLC lifted its holdings in UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after purchasing an additional 4,344 shares in the last quarter. Advisory Services Network LLC bought a new position in UWM in the 3rd quarter worth approximately $38,000. Raymond James Financial Inc. bought a new position in UWM in the 2nd quarter worth approximately $35,000. Finally, Farther Finance Advisors LLC grew its holdings in UWM by 1,410.7% during the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after buying an additional 8,027 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

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.