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 company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $3.78, for a total transaction of $2,392,263.72. Following the sale, the chief executive officer owned 4,867,667 shares of the company’s stock, valued at $18,399,781.26. This trade represents a 11.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.11, for a total value of $2,601,112.14.
• On Tuesday, March 3rd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.25, for a total value of $2,689,714.50.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.03, for a total value of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.52, for a total value of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.77, for a total value of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.88, for a total value of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.94, for a total transaction of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.66, for a total transaction of $2,949,192.84.
• 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 transaction of $2,917,549.14.
• On Friday, February 6th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.84, for a total transaction of $3,063,110.16.

UWM Stock Performance

NYSE UWMC traded up $0.02 during midday trading on Monday, hitting $3.88. The company had a trading volume of 23,199,354 shares, compared to its average volume of 19,592,791. The firm has a fifty day simple moving average of $4.94 and a two-hundred day simple moving average of $5.40. UWM Holdings Corporation has a fifty-two week low of $3.64 and a fifty-two week high of $7.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 64.73 and a beta of 1.90.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). UWM had a net margin of 0.87% and a negative return on equity of 1.35%. The company had revenue of $945.25 million for the quarter, compared to analyst estimates of $759.12 million. Equities analysts forecast 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, April 9th. Shareholders of record on Thursday, March 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.40 annualized dividend and a yield of 10.3%. UWM’s dividend payout ratio is 666.67%.

Institutional Investors Weigh In On UWM

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in UWM by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company’s stock valued at $83,042,000 after purchasing an additional 1,676,754 shares during the last quarter. Azora Capital LP grew its stake in UWM by 230.8% during the fourth quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock worth $49,477,000 after buying an additional 7,881,586 shares during the last quarter. Brandes Investment Partners LP bought a new stake in UWM during the fourth quarter worth about $45,867,000. Balyasny Asset Management L.P. increased its holdings 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 buying an additional 3,224,806 shares in the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in shares of UWM in the third quarter valued at approximately $32,630,000. Institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UWMC. Keefe, Bruyette & Woods decreased their price objective on UWM from $6.75 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Barclays lowered their price target on shares of UWM from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a report on Tuesday, January 6th. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Jefferies Financial Group set a $4.40 price target on shares of UWM in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, UWM presently has an average rating of “Hold” and an average price target of $6.20.

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.