Insider Selling: UWM (NYSE:UWMC) CEO Sells $1,891,670.10 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 402,483 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $4.70, for a total value of $1,891,670.10. Following the completion of the sale, the chief executive officer directly owned 3,328,490 shares of the company’s stock, valued at $15,643,903. This represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, December 29th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total transaction of $2,797,303.08.
• On Friday, December 26th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.57, for a total transaction of $2,892,234.18.
• On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The stock was sold at an average price of $4.66, for a total transaction of $2,096,986.02.
• On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.47, for a total transaction of $3,349,209.89.
• On Wednesday, December 10th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.60, for a total value of $3,428,807.20.
• On Monday, December 8th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.67, for a total value of $3,471,667.29.
• On Friday, December 5th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.78, for a total value of $3,539,018.86.
• On Wednesday, December 3rd, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.71, for a total value of $3,496,158.77.
• On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.80, for a total value of $3,551,264.60.
• On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The stock was sold at an average price of $5.85, for a total value of $2,556,877.05.

UWM Stock Down 4.2%

Shares of NYSE:UWMC traded down $0.20 during midday trading on Monday, reaching $4.40. 11,904,766 shares of the company’s stock were exchanged, compared to its average volume of 7,267,450. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45. The company’s 50 day simple moving average is $5.39 and its two-hundred day simple moving average is $5.22. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.14.

UWM (NYSE:UWMC) last released its quarterly earnings data 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 0.61% and a negative return on equity of 6.81%. The company had revenue of $151.14 million for the quarter, compared to analyst estimates of $651.51 million. Equities research analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.1%. The ex-dividend date is Thursday, December 18th.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of UWM in a research report on Friday, December 19th. They set a “hold” rating and a $5.00 target price for the company. BTIG Research reissued a “buy” rating and issued a $10.00 target price on shares of UWM in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. UBS Group lifted their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen cut UWM from a “hold” rating to a “strong sell” rating in a report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.56.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of UWM by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after purchasing an additional 1,010,907 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock worth $24,803,000 after purchasing an additional 3,224,806 shares during the period. Integrated Investment Consultants LLC bought a new stake in UWM in the third quarter valued at about $32,630,000. Bank of America Corp DE lifted its stake in UWM by 40.5% in the third quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock valued at $32,152,000 after buying an additional 1,520,923 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in UWM by 165.5% during the third quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock worth $30,382,000 after buying an additional 3,109,591 shares during the last quarter. 53.59% of the stock is 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.