Insider Selling: UWM Holdings Corporation (NYSE:UWMC) CEO Sells 400,036 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $4.14, for a total value of $1,656,149.04. Following the sale, the chief executive officer now directly owns 2,099,784 shares in the company, valued at $8,693,105.76. This represents a 16.00% 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 Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.10, for a total value of $1,640,147.60.
• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.02, for a total value of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Trading Down 2.0%

Shares of UWM stock opened at $4.11 on Friday. The firm has a market capitalization of $6.56 billion, a PE ratio of -31.58 and a beta of 1.70. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.74. The firm’s 50-day moving average price is $4.25 and its 200 day moving average price is $5.29. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87.

UWM (NYSE:UWMC) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analysts’ expectations of $558.80 million. UWM had a negative net margin of 0.36% and a negative return on equity of 3.86%. On average, sell-side analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.74%. The ex-dividend date of this dividend is Wednesday, June 18th. UWM’s dividend payout ratio is presently -307.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock worth $32,000 after purchasing an additional 2,958 shares in the last quarter. Sherbrooke Park Advisers LLC lifted its stake in UWM by 17.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 20,038 shares of the company’s stock worth $118,000 after purchasing an additional 2,975 shares in the last quarter. Mariner LLC lifted its stake in UWM by 5.1% in the 4th quarter. Mariner LLC now owns 64,455 shares of the company’s stock worth $378,000 after purchasing an additional 3,126 shares in the last quarter. Victory Capital Management Inc. lifted its stake in UWM by 20.7% in the 4th quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock worth $119,000 after purchasing an additional 3,488 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in UWM by 13.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,477 shares of the company’s stock worth $174,000 after purchasing an additional 3,524 shares in the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on UWMC shares. UBS Group raised UWM from a “sell” rating to a “neutral” rating and cut their price target for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. Wedbush reaffirmed a “neutral” rating and set a $6.50 price target on shares of UWM in a research report on Monday, March 3rd. Keefe, Bruyette & Woods cut their price target on UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group cut their price target on UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, UWM has a consensus rating of “Hold” and a consensus target price of $6.86.

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.