Insider Selling: UWM Holdings Corporation (NYSE:UWMC) CEO Sells 400,036 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $4.02, for a total value of $1,608,144.72. Following the completion of the transaction, the chief executive officer now owns 3,299,892 shares in the company, valued at approximately $13,265,565.84. This represents a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.10, for a total value of $1,640,147.60.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total transaction of $1,596,143.64.

UWM Stock Performance

Shares of NYSE UWMC traded up $0.18 during midday trading on Monday, reaching $4.22. 9,504,186 shares of the stock were exchanged, compared to its average volume of 3,617,864. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $9.74. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.87. The business has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $5.35.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. On average, analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.48%. The ex-dividend date is Wednesday, June 18th. UWM’s dividend payout ratio is currently -307.69%.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently modified their holdings of UWMC. First Trust Advisors LP increased its holdings in UWM by 886.9% during the 4th quarter. First Trust Advisors LP now owns 3,727,477 shares of the company’s stock worth $21,880,000 after purchasing an additional 3,349,779 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock worth $69,060,000 after buying an additional 3,212,081 shares during the period. AQR Capital Management LLC grew its holdings in shares of UWM by 1,144.7% during the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock worth $13,633,000 after buying an additional 2,296,205 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of UWM during the 4th quarter worth approximately $6,602,000. Finally, EMG Holdings L.P. acquired a new position in UWM during the fourth quarter worth $2,597,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UWMC. Keefe, Bruyette & Woods cut their price objective on shares of UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Wedbush reiterated a “neutral” rating and set a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. The Goldman Sachs Group cut their price target on UWM from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group upgraded UWM from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $4.75 to $4.50 in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.86.

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.