Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,089,124.08 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction on Friday, November 7th. The shares were sold at an average price of $5.18, for a total value of $3,089,124.08. Following the transaction, the chief executive officer owned 4,443,544 shares of the company’s stock, valued at $23,017,557.92. The trade was a 11.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, November 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32.
• 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 transaction of $3,435,010.56.
• 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 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 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 value of $3,417,119.88.
• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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.

UWM Trading Up 1.0%

Shares of NYSE:UWMC opened at $5.53 on Thursday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.14. The company has a market cap of $8.84 billion, a P/E ratio of -110.50 and a beta of 1.79. The stock’s fifty day moving average price is $5.92 and its 200-day moving average price is $4.99.

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

UWM Dividend Announcement

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

Institutional Investors Weigh In On UWM

A number of institutional investors have recently bought and sold shares of the business. Cerity Partners LLC purchased a new position in shares of UWM in the first quarter valued at about $342,000. Arizona State Retirement System lifted its holdings in UWM by 37.5% in the 1st quarter. Arizona State Retirement System now owns 36,236 shares of the company’s stock worth $198,000 after purchasing an additional 9,874 shares in the last quarter. CWM LLC grew its holdings in UWM by 865.2% during the 1st quarter. CWM LLC now owns 115,764 shares of the company’s stock valued at $632,000 after buying an additional 103,770 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of UWM by 10.9% during the first quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company’s stock valued at $241,000 after buying an additional 4,336 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock worth $45,000 after buying an additional 4,693 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on UWMC shares. Zacks Research raised shares of UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Barclays lifted their price objective on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. UBS Group increased their target price on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Two 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 stock. According to data from MarketBeat.com, UWM currently has an average rating of “Hold” and an average price target of $6.54.

About UWM

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.