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

Key Points

• UWM Holdings Corporation CEO Ishbia Mat sold 400,036 shares of the company's stock at an average price of $5.35, totaling approximately $2.14 million, resulting in an 8.89% decrease in his ownership position.
• The company recently announced a quarterly dividend of $0.10 per share, with a yield of 7.4%, and an ex-dividend date of September 18th.
• Consensus rating for UWM stock stands at "Hold" with an average target price of $5.54, influenced by various analysts' upgrades and downgrades.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $5.35, for a total transaction of $2,140,192.60. Following the completion of the transaction, the chief executive officer directly owned 4,098,452 shares in the company, valued at approximately $21,926,718.20. The trade was a 8.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 15th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.39, for a total transaction of $2,156,194.04.
• On Wednesday, August 13th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.45, for a total transaction of $2,180,196.20.
• On Monday, August 11th, 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 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 stock was 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 stock was 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.

UWM Stock Performance

NYSE:UWMC traded down $0.1850 during trading hours on Thursday, hitting $5.3550. 6,059,031 shares of the company were exchanged, compared to its average volume of 5,862,798. 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 Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.74. The company's 50 day moving average price is $4.40 and its 200-day moving average price is $4.91. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of -107.30 and a beta of 1.70.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, beating 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 business had revenue of $758.70 million during the quarter, compared to analysts' expectations of $621.60 million. As a group, research analysts forecast that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is currently -800.00%.

Institutional Investors Weigh In On UWM

A number of hedge funds have recently modified their holdings of UWMC. Wells Fargo & Company MN grew its holdings 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 purchasing an additional 5,849 shares during the period. Townsquare Capital LLC purchased a new stake in shares of UWM in the fourth quarter valued at about $72,000. Barclays PLC grew its holdings in shares of UWM by 487.6% in the fourth quarter. Barclays PLC now owns 152,912 shares of the company's stock valued at $899,000 after purchasing an additional 126,890 shares during the period. Mariner LLC grew its holdings in shares of UWM by 5.1% in the fourth quarter. Mariner LLC now owns 64,455 shares of the company's stock valued at $378,000 after purchasing an additional 3,126 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of UWM by 58.7% in the fourth quarter. Marshall Wace LLP now owns 232,259 shares of the company's stock valued at $1,363,000 after purchasing an additional 85,889 shares during the period. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UWMC shares. Keefe, Bruyette & Woods cut shares of UWM from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $6.50 to $4.50 in a research note 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 for the company in a research note on Wednesday, July 2nd. Barclays upgraded shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.54.

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.