Insider Selling: UWM (NYSE:UWMC) CEO Sells 596,356 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $5.76, for a total transaction of $3,435,010.56. Following the completion of the sale, the chief executive officer owned 28,968 shares of the company’s stock, valued at approximately $166,855.68. This represents a 95.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 shares were 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 shares were 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 shares were 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 value of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.37, for a total value of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.39, for a total value of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.34, for a total transaction of $3,184,541.04.

UWM Stock Up 3.6%

Shares of UWM stock traded up $0.21 during trading hours on Monday, reaching $5.84. 10,402,101 shares of the company’s stock were exchanged, compared to its average volume of 6,605,840. The company has a 50 day moving average of $5.94 and a two-hundred day moving average of $4.93. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $9.33 billion, a P/E ratio of -116.70 and a beta of 1.79.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The company had revenue of $758.70 million for the quarter, compared to analysts’ expectations of $621.60 million. On average, sell-side analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.9%. The ex-dividend date was Thursday, September 18th. UWM’s dividend payout ratio (DPR) is -800.00%.

Institutional Investors Weigh In On UWM

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. increased its stake in 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 purchasing an additional 3,224,806 shares in the last quarter. 683 Capital Management LLC bought a new stake in UWM in the second quarter valued at $19,872,000. Bank of America Corp DE increased its stake in UWM by 93.8% in the second 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 in the last quarter. AQR Capital Management LLC increased its stake in 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 purchasing an additional 2,296,205 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in UWM by 47.5% in the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock valued at $9,997,000 after purchasing an additional 777,264 shares in the last quarter. 53.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley cut 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 note on Monday, September 29th. Barclays raised their target price on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Zacks Research upgraded shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. UBS Group lifted their price target on shares of UWM from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Keefe, Bruyette & Woods lowered shares of UWM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.46.

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.