Insider Selling: UWM (NYSE:UWMC) CEO Sells 632,874 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $4.84, for a total transaction of $3,063,110.16. Following the completion of the transaction, the chief executive officer directly owned 4,325,147 shares of the company’s stock, valued at $20,933,711.48. This represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.61, for a total value of $2,917,549.14.
• On Wednesday, February 4th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.05, for a total transaction of $3,196,013.70.
• On Monday, February 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.20, for a total value of $3,290,944.80.
• On Friday, January 30th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.00, for a total value of $3,164,370.00.
• On Wednesday, January 28th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.89, for a total transaction of $3,727,627.86.
• On Monday, January 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.75, for a total transaction of $3,639,025.50.
• On Thursday, January 22nd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.87, for a total value of $3,714,970.38.
• On Tuesday, January 20th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.82, for a total value of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $6.04, for a total transaction of $3,822,558.96.
• On Wednesday, January 14th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.46, for a total value of $3,455,492.04.

UWM Stock Down 2.3%

UWM stock traded down $0.11 during mid-day trading on Monday, reaching $4.64. 13,417,341 shares of the company were exchanged, compared to its average volume of 20,062,928. The firm’s 50-day simple moving average is $5.22 and its two-hundred day simple moving average is $5.43. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40.

UWM (NYSE:UWMC) last issued its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The firm had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. Research analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On UWM

Several hedge funds have recently modified their holdings of UWMC. Allworth Financial LP lifted its stake in shares of UWM by 5,681.9% in the third quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after acquiring an additional 4,091 shares in the last quarter. GAMMA Investing LLC grew its holdings in UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after acquiring an additional 4,344 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of UWM in the 3rd quarter worth about $38,000. Raymond James Financial Inc. bought a new stake in shares of UWM in the 2nd quarter worth about $35,000. Finally, Farther Finance Advisors LLC raised its stake in shares of UWM by 1,410.7% in the 4th quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after purchasing an additional 8,027 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UWMC shares. Morgan Stanley set a $6.00 price objective on UWM in a report on Tuesday, December 16th. Wall Street Zen cut shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. UBS Group raised their target price on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. The Goldman Sachs Group set a $5.00 price objective on UWM in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group assumed coverage on UWM in a research report on Friday, December 19th. They set a “hold” rating and a $5.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.53.

About UWM

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.