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

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 596,356 shares of stock on October 6th for approximately $3.39 million, reducing his ownership by 10.37% to 5,156,088 shares valued at about $29.34 million.
• The company's stock price has decreased, trading down to $5.60 as of the latest report, with a 52-week range of $3.80 to $7.60.
• UWM recently declared a quarterly dividend of $0.10 per share, resulting in a 7.1% dividend yield, with the ex-dividend date set for September 18th.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction on Monday, October 6th. The stock was sold at an average price of $5.69, for a total transaction of $3,393,265.64. Following the sale, the chief executive officer owned 5,156,088 shares in the company, valued at $29,338,140.72. This represents a 10.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, October 3rd, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.99, for a total transaction of $3,572,172.44.
• On Wednesday, October 1st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.22, for a total transaction of $3,709,334.32.
• On Monday, September 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.11, for a total value of $3,643,735.16.
• On Friday, September 26th, 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 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.42, for a total value of $3,828,605.52.
• 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 Friday, September 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.45, for a total transaction of $3,846,496.20.
• 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 transaction 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.

UWM Price Performance

NYSE UWMC traded down $0.38 on Monday, hitting $5.60. 10,199,969 shares of the company were exchanged, compared to its average volume of 6,325,037. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.60. The firm has a 50 day moving average of $5.65 and a two-hundred day moving average of $4.88. The company has a market cap of $8.96 billion, a P/E ratio of -112.00 and a beta of 1.79. 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 earnings results on Thursday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 net margin of 0.48% and a negative return on equity of 5.56%. On average, equities analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 7.1%. The ex-dividend date is Thursday, September 18th. UWM's dividend payout ratio (DPR) is currently -800.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on UWMC shares. The Goldman Sachs Group cut 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. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a research note on Saturday, September 27th. BTIG Research reaffirmed a "buy" rating and set a $10.00 price objective on shares of UWM in a research note on Monday, September 22nd. Morgan Stanley lowered UWM from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. Finally, Wall Street Zen raised UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $6.32.

Institutional Investors Weigh In On UWM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of UWM by 16.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,047 shares of the company's stock valued at $1,157,000 after acquiring an additional 27,531 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of UWM by 14.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 55,858 shares of the company's stock worth $328,000 after purchasing an additional 6,976 shares during the last quarter. GAMMA Investing LLC increased its position in shares of UWM by 1,002.0% during the 1st quarter. GAMMA Investing LLC now owns 32,012 shares of the company's stock worth $175,000 after purchasing an additional 29,107 shares during the last quarter. Parallel Advisors LLC increased its position in shares of UWM by 60.3% during the 1st quarter. Parallel Advisors LLC now owns 15,175 shares of the company's stock worth $83,000 after purchasing an additional 5,709 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in UWM during the first quarter worth $163,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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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