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 business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $5.47, for a total transaction of $3,262,067.32. Following the transaction, the chief executive officer directly owned 3,847,188 shares in the company, valued at approximately $21,044,118.36. The trade was a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.18, for a total transaction of $3,089,124.08.
• 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 transaction 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 stock was 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 value of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.83, for a total value 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 value of $3,500,609.72.
• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was 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 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 shares were sold at an average price of $5.37, for a total transaction of $3,202,431.72.

UWM Stock Up 3.8%

Shares of NYSE:UWMC traded up $0.20 during midday trading on Monday, reaching $5.45. The company’s stock had a trading volume of 14,998,281 shares, compared to its average volume of 6,760,784. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average of $5.93 and a 200-day moving average of $4.97. The firm has a market capitalization of $8.72 billion, a P/E ratio of -109.00 and a beta of 1.79. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $7.14.

UWM (NYSE:UWMC) last posted 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 for 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%. On average, research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Thursday, December 18th.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently added to or reduced their stakes in UWMC. State of Wyoming boosted its stake in shares of UWM by 24.9% in the 3rd quarter. State of Wyoming now owns 14,552 shares of the company’s stock worth $89,000 after buying an additional 2,902 shares during the last quarter. Arizona State Retirement System lifted its holdings in UWM by 8.1% in the third quarter. Arizona State Retirement System now owns 50,661 shares of the company’s stock valued at $309,000 after acquiring an additional 3,785 shares during the period. Bleakley Financial Group LLC boosted its position in UWM by 10.9% in the first quarter. Bleakley Financial Group LLC now owns 44,059 shares of the company’s stock worth $241,000 after purchasing an additional 4,336 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after purchasing an additional 4,344 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of UWM by 23.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company’s stock valued at $99,000 after purchasing an additional 4,552 shares during the period. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Barclays raised their price target on UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Morgan Stanley downgraded shares of UWM from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $4.50 to $6.50 in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, UWM has a consensus rating of “Hold” and an average price target of $6.46.

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.