Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,709,334.32 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $6.22, for a total value of $3,709,334.32. Following the completion of the transaction, the chief executive officer directly owned 6,945,156 shares of the company’s stock, valued at approximately $43,198,870.32. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.11, for a total value of $3,643,735.16.
• On Friday, September 26th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.42, for a total value of $3,828,605.52.
• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.45, for a total value of $3,846,496.20.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.84, for a total value of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The stock was sold at an average price of $6.88, for a total value of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.77, for a total value of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.44, for a total value of $2,576,231.84.

UWM Stock Performance

Shares of UWM stock opened at $5.98 on Friday. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.89. The company has a market cap of $9.56 billion, a PE ratio of -119.50 and a beta of 1.79. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The business has a 50-day simple moving average of $5.65 and a 200-day simple moving average of $4.89.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The business had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. On average, equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.7%. UWM’s payout ratio is currently -800.00%.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UWMC. Ameriprise Financial Inc. lifted its stake in UWM by 449.7% in the fourth quarter. Ameriprise Financial Inc. now owns 76,238 shares of the company’s stock valued at $448,000 after buying an additional 62,370 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in UWM by 16.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,047 shares of the company’s stock valued at $1,157,000 after buying an additional 27,531 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in UWM by 14.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 55,858 shares of the company’s stock valued at $328,000 after buying an additional 6,976 shares during the last quarter. GAMMA Investing LLC lifted its stake in UWM by 1,002.0% in the first quarter. GAMMA Investing LLC now owns 32,012 shares of the company’s stock valued at $175,000 after buying an additional 29,107 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in UWM by 60.3% in the first quarter. Parallel Advisors LLC now owns 15,175 shares of the company’s stock valued at $83,000 after buying an additional 5,709 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on UWMC. Morgan Stanley downgraded UWM from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research note on Saturday, September 27th. Keefe, Bruyette & Woods cut UWM from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $6.50 to $4.50 in a research note on Thursday, July 10th. Barclays upgraded UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 target price for the company in a research note on Tuesday, July 8th. Finally, BTIG Research restated a “buy” rating and set a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, UWM presently has an average rating of “Hold” and an average target price of $6.18.

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.