Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,492,003.26 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of the company’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $3.49, for a total transaction of $3,492,003.26. Following the completion of the sale, the chief executive officer directly owned 3,330,431 shares of the company’s stock, valued at $11,623,204.19. The trade was a 23.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, March 31st, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.55, for a total transaction of $3,552,037.70.
• On Wednesday, March 25th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total transaction of $3,552,037.70.
• On Monday, March 23rd, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.72, for a total transaction of $3,722,135.28.
• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.60, for a total transaction of $3,602,066.40.
• On Wednesday, March 18th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.73, for a total transaction of $3,732,141.02.
• On Monday, March 16th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.70, for a total value of $3,702,123.80.
• 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 value 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 value 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 value 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 value of $2,601,112.14.

UWM Trading Up 0.1%

Shares of UWMC stock opened at $3.73 on Friday. The stock has a 50-day simple moving average of $4.35 and a 200 day simple moving average of $5.07. UWM Holdings Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $7.14. The stock has a market capitalization of $5.96 billion, a P/E ratio of 62.08 and a beta of 1.93. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS 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 business had revenue of $945.25 million during the quarter, compared to the consensus estimate of $759.12 million. On average, sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Thursday, March 19th. UWM’s payout ratio is presently 666.67%.

Wall Street Analyst Weigh In

UWMC has been the subject of a number of research reports. Jefferies Financial Group set a $4.40 target price on shares of UWM in a report on Wednesday, February 25th. Keefe, Bruyette & Woods dropped their price target on UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Argus upgraded UWM to a “hold” rating in a research report on Tuesday, March 31st. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Compass Point began coverage on UWM in a research report on Tuesday, March 10th. They set a “buy” rating and a $8.50 target price on the stock. Three 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.49.

Institutional Investors Weigh In On UWM

A number of institutional investors have recently bought and sold shares of UWMC. Dynamic Technology Lab Private Ltd purchased a new position in UWM during the 1st quarter valued at about $92,000. Focus Partners Wealth purchased a new stake in shares of UWM in the first quarter worth approximately $55,000. Geode Capital Management LLC boosted its holdings in shares of UWM by 47.5% during the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock worth $9,997,000 after purchasing an additional 777,264 shares during the period. Creative Planning grew its position in UWM by 300.2% during the second quarter. Creative Planning now owns 135,816 shares of the company’s stock valued at $562,000 after purchasing an additional 101,883 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in UWM by 20.5% during the second quarter. Cetera Investment Advisers now owns 112,961 shares of the company’s stock valued at $468,000 after purchasing an additional 19,239 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.