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

Key Points

• The CEO of UWM Holdings Corporation, Ishbia Mat, sold 596,356 shares of stock on October 13th for a total value of $3,142,796.12, reducing his ownership by 21.52%.
• UWM stock recently traded at $5.45, with a 12-month low of $3.80 and a high of $7.60, while the company reported a quarterly earnings increase and a dividend yield of 7.3%.
• Recent analyst ratings for UWM include adjustments by Goldman Sachs and Morgan Stanley, with a consensus rating of "Hold" and a price target of $6.46.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12. Following the sale, the chief executive officer owned 2,174,308 shares in the company, valued at approximately $11,458,603.16. This trade represents a 21.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.34, for a total transaction of $3,184,541.04.
• On Wednesday, October 8th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.40, for a total value of $3,220,322.40.
• On Monday, October 6th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.69, for a total value of $3,393,265.64.
• 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 stock was 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 stock was sold at an average price of $6.23, for a total transaction of $3,715,297.88.
• On Wednesday, September 24th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $6.42, for a total transaction 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.

UWM Stock Performance

Shares of NYSE:UWMC traded up $0.15 during trading on Tuesday, reaching $5.45. 10,020,020 shares of the stock were exchanged, compared to its average volume of 6,412,911. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.60. The firm has a market cap of $8.71 billion, a PE ratio of -108.90 and a beta of 1.79. The stock has a 50-day moving average price of $5.80 and a 200-day moving average price of $4.87. 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 announced its 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. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. The firm had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. Research analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Thursday, September 18th. UWM's dividend payout ratio is presently -800.00%.

Institutional Trading of UWM

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company's stock valued at $33,000 after buying an additional 4,344 shares in the last quarter. Signaturefd LLC raised its position in shares of UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after buying an additional 4,693 shares in the last quarter. Raymond James Financial Inc. bought a new stake in UWM in the 2nd quarter worth approximately $35,000. Quarry LP bought a new stake in UWM in the 1st quarter worth approximately $53,000. Finally, Focus Partners Wealth purchased a new stake in UWM in the first quarter worth approximately $55,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Wall Street Analyst Weigh In

UWMC has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target on shares of 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. Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 7th. Morgan Stanley cut UWM from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $4.50 to $6.50 in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.46.

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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