Insider Selling: UWM (NYSE:UWMC) CEO Sells 596,356 Shares of Stock

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold a total of 596,356 shares on September 19 for approximately $3.85 million, reducing his ownership by 10.82% to 4,916,004 shares.
• UWM's stock recently traded down by 1.3%, reaching $6.32, with a market capitalization of $10.10 billion and a negative price-to-earnings ratio of -126.30.
• The company also announced a quarterly dividend of $0.10 per share, representing an annualized yield of 6.3%, with a payout ratio of -800.00%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $6.45, for a total transaction of $3,846,496.20. Following the transaction, the chief executive officer owned 4,916,004 shares in the company, valued at $31,708,225.80. The trade was a 10.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, September 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.23, for a total value of $3,715,297.88.
• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Monday, September 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.84, for a total value of $4,079,075.04.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The stock was sold at an average price of $6.88, for a total value of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.77, for a total value of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $6.44, for a total value of $2,576,231.84.
• On Thursday, September 4th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.81, for a total value of $2,324,209.16.
• On Tuesday, September 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.59, for a total value of $2,236,201.24.
• On Friday, August 29th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.70, for a total value of $2,280,205.20.
• On Wednesday, August 27th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.68, for a total value of $2,272,204.48.

UWM Price Performance

UWMC stock traded up $0.09 during mid-day trading on Tuesday, reaching $6.41. 4,374,215 shares of the company's stock were exchanged, compared to its average volume of 6,178,526. The company has a market cap of $10.24 billion, a price-to-earnings ratio of -127.98 and a beta of 1.75. The stock's 50 day moving average is $5.32 and its 200 day moving average is $4.86. 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 12-month low of $3.80 and a 12-month high of $8.73.

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

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.2%. UWM's dividend payout ratio is currently -800.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, July 2nd. Wall Street Zen raised UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. BTIG Research reissued a "buy" rating and set a $10.00 target price on shares of UWM in a report on Monday. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $6.50 to $4.50 in a report on Thursday, July 10th. Finally, Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price for the company in a report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Balyasny Asset Management L.P. boosted its holdings in UWM by 116.6% in the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after purchasing an additional 3,224,806 shares during the period. 683 Capital Management LLC purchased a new position in UWM in the second quarter valued at $19,872,000. Bank of America Corp DE boosted its holdings in UWM by 93.8% in the second quarter. Bank of America Corp DE now owns 3,758,600 shares of the company's stock valued at $15,561,000 after purchasing an additional 1,819,129 shares during the period. AQR Capital Management LLC boosted its holdings in UWM by 1,144.7% in the first quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company's stock valued at $13,633,000 after purchasing an additional 2,296,205 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in UWM by 47.5% in the second quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company's stock valued at $9,997,000 after purchasing an additional 777,264 shares during the period. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

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.