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 13th for a total of $2,180,196.20, reducing his ownership by 26.69%.
• UWM Holdings recently announced a quarterly dividend of $0.10 per share, with a payout date set for October 9th, marking a 7.3% yield.
• UWM's stock is currently trading at $5.49, reflecting a 1.9% decline on the day, amidst various rating changes from analysts, with a consensus target price of $5.54.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $5.45, for a total transaction of $2,180,196.20. Following the completion of the sale, the chief executive officer directly owned 1,098,560 shares of the company's stock, valued at $5,987,152. This represents a 26.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Friday, August 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.

UWM Price Performance

Shares of NYSE:UWMC traded down $0.09 on Friday, hitting $5.39. The company had a trading volume of 10,388,569 shares, compared to its average volume of 9,600,160. The business has a 50 day moving average of $4.33 and a 200 day moving average of $4.92. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.74. The company has a market cap of $8.62 billion, a PE ratio of -107.80 and a beta of 1.70. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. The company had revenue of $758.70 million for the quarter, compared to the consensus estimate of $621.60 million. As a group, equities analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.40 annualized dividend and a yield of 7.4%. UWM's payout ratio is presently -800.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on UWMC. Keefe, Bruyette & Woods downgraded shares of UWM from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. The Goldman Sachs Group decreased their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, 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 research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, UWM currently has an average rating of "Hold" and a consensus target price of $5.54.

Institutional Trading of UWM

Several hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its stake in shares of UWM by 15.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock worth $2,229,000 after buying an additional 54,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of UWM by 112.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock worth $648,000 after acquiring an additional 62,862 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of UWM by 9.9% in the 4th quarter. Wells Fargo & Company MN now owns 64,970 shares of the company's stock worth $381,000 after acquiring an additional 5,849 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of UWM in the 1st quarter worth $65,000. Finally, GAMMA Investing LLC grew its holdings in shares of UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after acquiring an additional 2,958 shares during the last quarter. 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.