Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,401,298.87 in Stock

Key Points

• UWM CEO Ishbia Mat sold 1,003,333 shares on Friday, May 8, for about $3.4 million at an average price of $3.39. The trade was made under a pre-arranged Rule 10b5-1 plan.
• This sale was part of a broader run of insider selling, with Mat having sold roughly 1 million shares multiple times in late April and early May at prices mostly between about $3.50 and $3.94.
• UWM recently reported better-than-expected earnings of $0.09 per share on revenue of $901.4 million, while also declaring a $0.10 quarterly dividend that implies an unusually high annualized yield of 11.8%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 1,003,333 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $3.39, for a total value of $3,401,298.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 6th, Ishbia Mat sold 1,003,333 shares of UWM stock. The shares were sold at an average price of $3.66, for a total value of $3,672,198.78.
• On Monday, May 4th, Ishbia Mat sold 1,003,333 shares of UWM stock. The stock was sold at an average price of $3.57, for a total transaction of $3,581,898.81.
• On Friday, May 1st, Ishbia Mat sold 1,001,024 shares of UWM stock. The shares were sold at an average price of $3.62, for a total transaction of $3,623,706.88.
• On Thursday, April 30th, Ishbia Mat sold 934,061 shares of UWM stock. The shares were sold at an average price of $3.53, for a total transaction of $3,297,235.33.
• On Wednesday, April 29th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.50, for a total transaction of $3,502,009.00.
• On Tuesday, April 28th, Ishbia Mat sold 986,644 shares of UWM stock. The stock was sold at an average price of $3.66, for a total transaction of $3,611,117.04.
• On Monday, April 27th, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.78, for a total value of $3,782,169.72.
• On Friday, April 24th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.75, for a total value of $3,752,152.50.
• On Wednesday, April 22nd, Ishbia Mat sold 1,000,574 shares of UWM stock. The shares were sold at an average price of $3.70, for a total value of $3,702,123.80.
• On Monday, April 20th, Ishbia Mat sold 1,000,574 shares of UWM stock. The stock was sold at an average price of $3.94, for a total value of $3,942,261.56.

UWM Price Performance

UWM stock traded up $0.01 during trading on Friday, reaching $3.39. The company had a trading volume of 16,883,355 shares, compared to its average volume of 17,662,537. The firm has a market capitalization of $5.42 billion, a PE ratio of 12.54 and a beta of 1.78. The firm's 50-day simple moving average is $3.77 and its 200 day simple moving average is $4.73. 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 1-year low of $3.27 and a 1-year high of $7.14.

UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $901.43 million for the quarter, compared to the consensus estimate of $709.85 million. UWM had a net margin of 1.92% and a return on equity of 18.89%. As a group, equities research analysts anticipate that UWM Holdings Corporation will post 0.41 earnings per share for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 11.8%. The ex-dividend date is Thursday, June 18th. UWM's payout ratio is presently 666.67%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on UWMC shares. Argus upgraded UWM to a "hold" rating in a research report on Tuesday, March 31st. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, February 28th. Jefferies Financial Group set a $4.40 target price on shares of UWM in a report on Wednesday, February 25th. Morgan Stanley set a $5.00 price target on shares of UWM in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $5.50 price target on shares of UWM in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.79.

Hedge Funds Weigh In On UWM

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in UWM in the first quarter valued at approximately $92,000. Focus Partners Wealth purchased a new stake in shares of UWM in the 1st quarter valued at approximately $55,000. Cetera Investment Advisers raised its holdings in shares of UWM by 20.5% in the 2nd quarter. Cetera Investment Advisers now owns 112,961 shares of the company's stock valued at $468,000 after purchasing an additional 19,239 shares in the last quarter. Legal & General Group Plc lifted its position in shares of UWM by 65.9% during the 2nd quarter. Legal & General Group Plc now owns 180,164 shares of the company's stock worth $746,000 after purchasing an additional 71,555 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of UWM by 18.5% during the second quarter. Rhumbline Advisers now owns 115,501 shares of the company's stock worth $478,000 after purchasing an additional 18,034 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

UWM Company Profile

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.

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