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

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 400,036 shares of the company's stock on August 8 at an average price of $4.58, totaling approximately $1.83 million, resulting in a 14.82% decrease in his ownership.
• UWM recently announced a quarterly dividend of $0.10 per share, with an annualized yield of 8.8%, to be paid on October 9.
• Analysts have mixed views on UWM shares, with price targets ranging from $4.50 to $6.50, reflecting a downgrade from "outperform" to "market perform" by Keefe, Bruyette & Woods.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $4.58, for a total transaction of $1,832,164.88. Following the sale, the chief executive officer directly owned 2,298,668 shares in the company, valued at approximately $10,527,899.44. This represents a 14.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 11th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.58, for a total transaction of $1,832,164.88.
• On Wednesday, August 6th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.25, for a total transaction of $1,700,153.00.
• On Monday, August 4th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.25, for a total transaction of $1,700,153.00.
• On Friday, August 1st, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.19, for a total transaction of $1,676,150.84.
• On Wednesday, July 30th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.10, for a total transaction of $1,640,147.60.
• On Monday, July 28th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.24, for a total transaction of $1,696,152.64.
• On Friday, July 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.23, for a total transaction of $1,692,152.28.
• On Wednesday, July 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.65, for a total transaction of $1,860,167.40.
• On Monday, July 21st, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.40, for a total transaction of $1,760,158.40.
• On Friday, July 18th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.20, for a total transaction of $1,680,151.20.

UWM Stock Up 0.6%

Shares of UWMC traded up $0.03 during mid-day trading on Monday, hitting $4.55. 9,893,799 shares of the company's stock were exchanged, compared to its average volume of 5,494,126. The company has a market cap of $7.27 billion, a PE ratio of -90.90 and a beta of 1.70. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $9.74. The company has a 50-day simple moving average of $4.22 and a 200 day simple moving average of $4.94. 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 (NYSE:UWMC - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The company had revenue of $758.70 million during the quarter, compared to analysts' expectations of $621.60 million. On average, research analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend is Thursday, September 18th. UWM's dividend payout ratio (DPR) is -800.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on UWMC shares. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and cut their price target for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price on the stock in a report on Tuesday, July 8th. UBS Group upgraded shares of UWM from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $4.75 to $4.50 in a report on Wednesday, April 16th. The Goldman Sachs Group dropped their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a report on Saturday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. bought a new position in UWM during the fourth quarter worth $82,000. LPL Financial LLC boosted its position in shares of UWM by 19.7% in the fourth quarter. LPL Financial LLC now owns 255,171 shares of the company's stock valued at $1,498,000 after acquiring an additional 42,042 shares during the period. Alliancebernstein L.P. boosted its position in shares of UWM by 469.0% in the fourth quarter. Alliancebernstein L.P. now owns 223,598 shares of the company's stock valued at $1,313,000 after acquiring an additional 184,299 shares during the period. Wells Fargo & Company MN boosted its position in shares of UWM by 9.9% in the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock valued at $381,000 after acquiring an additional 5,849 shares during the period. Finally, Bank of Nova Scotia boosted its position in shares of UWM by 51.0% in the fourth quarter. Bank of Nova Scotia now owns 621,392 shares of the company's stock valued at $3,648,000 after acquiring an additional 209,903 shares during the period. Institutional investors own 53.59% of the company's stock.

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.

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