Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,262,067.32 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $5.47, for a total value of $3,262,067.32. Following the completion of the sale, the chief executive officer directly owned 3,847,188 shares in the company, valued at $21,044,118.36. This represents a 13.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.18, for a total value of $3,089,124.08.
• On Wednesday, November 5th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total value of $3,393,265.64.
• On Monday, November 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.76, for a total value of $3,435,010.56.
• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.59, for a total transaction of $3,333,630.04.
• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.70, for a total transaction of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.83, for a total transaction of $3,476,755.48.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.87, for a total transaction of $3,500,609.72.
• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.73, for a total transaction of $3,417,119.88.
• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.56, for a total transaction of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.37, for a total value of $3,202,431.72.

UWM Stock Performance

UWMC opened at $5.53 on Thursday. The business’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $4.99. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $7.14. 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 firm has a market capitalization of $8.84 billion, a PE ratio of -110.50 and a beta of 1.79.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The company had revenue of $151.14 million during the quarter, compared to the consensus estimate of $651.51 million. As a group, sell-side analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Thursday, December 18th.

Hedge Funds Weigh In On UWM

A number of large investors have recently made changes to their positions in the company. 683 Capital Management LLC bought a new stake in UWM in the 2nd quarter valued at $19,872,000. Balyasny Asset Management L.P. boosted its position in shares of UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after acquiring an additional 3,224,806 shares during the period. AQR Capital Management LLC grew its stake in shares of UWM by 1,144.7% in the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock valued at $13,633,000 after acquiring an additional 2,296,205 shares in the last quarter. Azora Capital LP bought a new position in UWM during the second quarter worth about $9,032,000. Finally, Bank of America Corp DE boosted its holdings in UWM by 93.8% in the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock valued at $15,561,000 after purchasing an additional 1,819,129 shares during the period. Institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on UWMC shares. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $4.50 to $6.50 in a research report on Monday, September 29th. BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of UWM in a report on Monday, September 22nd. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. UBS Group raised their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Barclays boosted their target price on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.54.

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.