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 20th for a total of $3.3 million, reducing his ownership by 9.05% to approximately 5.99 million shares.
• UWM's stock is currently trading around $5.57, with a market cap of $8.90 billion and a price-to-earnings ratio of -111.30.
• The company recently declared a quarterly dividend of $0.10, which has a 7.2% annual yield, although its payout ratio is notably negative at -800.00%.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of the business's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $5.56, for a total transaction of $3,315,739.36. Following the sale, the chief executive officer directly owned 5,992,528 shares in the company, valued at $33,318,455.68. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.37, for a total transaction of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.39, for a total transaction of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.27, for a total transaction of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were 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 transaction 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 transaction 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 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 transaction 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 transaction of $3,715,297.88.

UWM Stock Performance

NYSE:UWMC traded up $0.17 during mid-day trading on Monday, hitting $5.57. The company's stock had a trading volume of 7,735,208 shares, compared to its average volume of 6,460,702. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.27. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of -111.30 and a beta of 1.79. The business's fifty day moving average is $5.88 and its two-hundred day moving average is $4.86.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.10. The business had revenue of $758.70 million during 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%. Analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a $0.10 dividend. The ex-dividend date was Thursday, September 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.2%. UWM's dividend payout ratio is -800.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on UWMC shares. Wall Street Zen upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays upped their price objective on shares of UWM from $6.00 to $7.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Zacks Research upgraded shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 7th. UBS Group upped their price target on shares of UWM from $4.50 to $5.50 and gave the stock a "neutral" rating in a research report on Friday, October 10th. Finally, BTIG Research restated a "buy" rating and set a $10.00 price target on shares of UWM in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, UWM currently has a consensus rating of "Hold" and a consensus price target of $6.46.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after acquiring an additional 2,958 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in UWM in the 2nd quarter valued at about $35,000. Signaturefd LLC raised its holdings in UWM by 135.4% in the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock valued at $45,000 after acquiring an additional 4,693 shares during the last quarter. R Squared Ltd acquired a new stake in UWM in the 2nd quarter valued at about $51,000. Finally, Quarry LP acquired a new stake in UWM in the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 53.59% of the company's stock.

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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