Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,782,169.72 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 1,000,574 shares of UWM stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $3.78, for a total transaction of $3,782,169.72. Following the transaction, the chief executive officer directly owned 13,323,543 shares in the company, valued at $50,362,992.54. The trade was a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 13th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.66, for a total transaction of $3,662,100.84.
• On Friday, April 10th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.71, for a total transaction of $3,712,129.54.
• On Wednesday, April 8th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.87, for a total transaction of $3,872,221.38.
• On Monday, April 6th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.73, for a total transaction of $3,732,141.02.
• On Thursday, April 2nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.69, for a total transaction of $3,692,118.06.
• On Friday, March 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.49, for a total transaction of $3,492,003.26.
• On Tuesday, March 31st, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total transaction of $3,552,037.70.
• On Wednesday, March 25th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.55, for a total transaction of $3,552,037.70.
• On Monday, March 23rd, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.72, for a total transaction of $3,722,135.28.
• On Friday, March 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.60, for a total transaction of $3,602,066.40.

UWM Stock Performance

Shares of UWMC opened at $3.93 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. UWM Holdings Corporation has a twelve month low of $3.38 and a twelve month high of $7.14. The firm’s 50 day moving average price is $4.04 and its two-hundred day moving average price is $4.90. The firm has a market cap of $6.28 billion, a P/E ratio of 65.42 and a beta of 1.93.

UWM (NYSE:UWMC) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share 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 during the quarter, compared to the consensus estimate of $759.12 million. On average, analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a yield of 10.2%. UWM’s payout ratio is presently 666.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UWMC. Compass Point began coverage on shares of UWM in a research note on Tuesday, March 10th. They issued a “buy” rating and a $8.50 price target on the stock. Wall Street Zen raised shares of UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Barclays cut their price target on shares of UWM from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of UWM from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.24.

Institutional Trading of UWM

A number of institutional investors have recently made changes to their positions in UWMC. Dimensional Fund Advisors LP increased its position in UWM by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 55,509 shares of the company’s stock valued at $243,000 after purchasing an additional 2,329 shares during the period. Public Employees Retirement System of Ohio increased its position in UWM by 4.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,423 shares of the company’s stock valued at $225,000 after purchasing an additional 2,407 shares during the period. Allworth Financial LP increased its position in UWM by 62.5% during the 4th quarter. Allworth Financial LP now owns 6,765 shares of the company’s stock valued at $30,000 after purchasing an additional 2,602 shares during the period. Choreo LLC increased its position in UWM by 16.1% during the 4th quarter. Choreo LLC now owns 19,017 shares of the company’s stock valued at $84,000 after purchasing an additional 2,637 shares during the period. Finally, State of Wyoming increased its position in UWM by 24.9% during the 3rd quarter. State of Wyoming now owns 14,552 shares of the company’s stock valued at $89,000 after purchasing an additional 2,902 shares during the period. Institutional investors own 53.59% of the company’s stock.

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.