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

Key Points

• UWM Holdings CEO Ishbia Mat sold 596,356 shares at an average price of $5.73, totaling over $3.4 million, which decreased his stock position by 11.05%.
• The company's stock price was $5.72, with a market capitalization of approximately $9.14 billion, and a one-year trading range between $3.80 and $7.14.
• UWM announced a quarterly dividend of $0.10 per share, yielding around 7.0%, despite a negative payout ratio of -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 Wednesday, October 22nd. The stock was sold at an average price of $5.73, for a total value of $3,417,119.88. Following the sale, the chief executive officer owned 4,799,816 shares of the company's stock, valued at approximately $27,502,945.68. The trade was a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.56, for a total value of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.37, for a total value 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 value 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 value 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 value 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 value 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 value 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.

UWM Trading Up 1.0%

NYSE:UWMC traded up $0.06 on Wednesday, reaching $5.72. The company's stock had a trading volume of 9,828,108 shares, compared to its average volume of 6,490,071. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.14. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $9.14 billion, a PE ratio of -114.30 and a beta of 1.79. The business's 50-day moving average price is $5.91 and its two-hundred day moving average price is $4.87.

UWM (NYSE:UWMC - Get Free Report) last posted 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. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The firm had revenue of $758.70 million during the quarter, compared to analysts' expectations of $621.60 million. Equities research analysts anticipate that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Thursday, September 18th. UWM's payout ratio is presently -800.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on UWMC shares. BTIG Research reissued a "buy" rating and issued a $10.00 target price on shares of UWM in a research note on Monday, September 22nd. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $6.50 to $4.50 in a research report on Thursday, July 10th. Morgan Stanley cut UWM from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $4.50 to $6.50 in a research report on Monday, September 29th. The Goldman Sachs Group reduced their price objective on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, July 2nd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of UWM in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UWMC. GAMMA Investing LLC raised its stake in UWM by 101.8% in the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock valued at $32,000 after buying an additional 2,958 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in UWM by 112.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock valued at $648,000 after buying an additional 62,862 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in UWM by 15.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock valued at $2,229,000 after buying an additional 54,160 shares during the period. Sequoia Financial Advisors LLC bought a new stake in UWM in the first quarter valued at approximately $65,000. Finally, Summit Trail Advisors LLC bought a new stake in UWM in the first quarter valued at approximately $126,000. 53.59% of the stock is owned by institutional investors and hedge funds.

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.

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