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

UWM Holdings Co. (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $3.99, for a total transaction of $1,596,143.64. Following the transaction, the chief executive officer now directly owns 4,099,964 shares in the company, valued at approximately $16,358,856.36. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

UWM Stock Down 4.0%

Shares of UWM stock traded down $0.17 during trading on Tuesday, reaching $3.94. The company had a trading volume of 17,493,526 shares, compared to its average volume of 3,489,483. The company has a market cap of $6.29 billion, a price-to-earnings ratio of -17.11 and a beta of 1.70. UWM Holdings Co. has a fifty-two week low of $3.89 and a fifty-two week high of $9.74. The firm's fifty day moving average is $4.34 and its 200-day moving average is $5.42. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.40 and a current ratio of 1.40.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.29). The business had revenue of $613.37 million during the quarter, compared to analysts' expectations of $558.80 million. On average, analysts anticipate that UWM Holdings Co. will post 0.2 EPS for the current year.

UWM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date is Wednesday, June 18th. UWM's dividend payout ratio is presently -307.69%.

Analysts Set New Price Targets

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

Institutional Trading of UWM

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of UWM by 103.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 57,085 shares of the company's stock valued at $322,000 after buying an additional 29,042 shares during the period. Sanctuary Advisors LLC acquired a new position in UWM in the fourth quarter valued at approximately $77,000. Ieq Capital LLC grew its holdings in shares of UWM by 273.3% during the fourth quarter. Ieq Capital LLC now owns 38,679 shares of the company's stock valued at $227,000 after purchasing an additional 28,319 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of UWM by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock worth $6,386,000 after purchasing an additional 147,459 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of UWM during the 4th quarter worth approximately $578,000. Institutional investors own 53.59% of the company's stock.

UWM Company Profile

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.

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