Insider Selling: UWM (NYSE:UWMC) CEO Sells 632,874 Shares of Stock

Key Points

• Ishbia Mat, UWM's CEO, sold 632,874 shares on March 5 at an average price of $4.11 for about $2.6 million, leaving him with 6,133,415 shares (a 9.35% reduction); this sale is one of several identical large insider dispositions made repeatedly across February and March.
• UWM declared a $0.10 quarterly dividend (payable April 9, ex-dividend March 19) that annualizes to $0.40 for a 9.9% yield666.67%, suggesting the yield may be unsustainable.
• The stock traded around $4.05 (50-day/200-day SMAs $4.96/$5.43) after reporting a slight EPS miss ($0.08 vs. $0.09 estimate) but a revenue beat, and analysts maintain an average rating of "Hold" with a $6.20 target.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 632,874 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $4.11, for a total value of $2,601,112.14. Following the sale, the chief executive officer owned 6,133,415 shares of the company's stock, valued at $25,208,335.65. The trade was a 9.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, March 3rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.25, for a total transaction of $2,689,714.50.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.03, for a total value of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.52, for a total transaction of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.77, for a total value of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.88, for a total value of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.94, for a total transaction of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.66, for a total value of $2,949,192.84.
• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.61, for a total value of $2,917,549.14.
• On Friday, February 6th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.84, for a total value of $3,063,110.16.
• On Wednesday, February 4th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.05, for a total value of $3,196,013.70.

UWM Stock Performance

Shares of UWM stock traded down $0.13 during trading hours on Thursday, reaching $4.05. The company's stock had a trading volume of 24,255,243 shares, compared to its average volume of 19,346,691. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. The company's 50 day simple moving average is $4.96 and its 200 day simple moving average is $5.43. UWM Holdings Corporation has a one year low of $3.79 and a one year high of $7.14. The stock has a market cap of $6.48 billion, a P/E ratio of 67.50 and a beta of 1.90.

UWM (NYSE:UWMC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. As a group, analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Thursday, March 19th. UWM's dividend payout ratio is 666.67%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in UWM by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 18,959,442 shares of the company's stock valued at $83,042,000 after buying an additional 1,676,754 shares during the period. Azora Capital LP increased its holdings in shares of UWM by 230.8% in the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company's stock valued at $49,477,000 after purchasing an additional 7,881,586 shares during the period. Brandes Investment Partners LP purchased a new stake in shares of UWM in the fourth quarter worth approximately $45,867,000. Balyasny Asset Management L.P. boosted its holdings in shares of UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock worth $24,803,000 after purchasing an additional 3,224,806 shares during the period. Finally, Integrated Investment Consultants LLC purchased a new position in UWM during the third quarter valued at approximately $32,630,000. Institutional investors own 53.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings raised UWM from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, February 26th. Zacks Research downgraded shares of UWM from a "hold" rating to a "strong sell" rating in a research report on Friday, February 27th. UBS Group upped their price target on shares of UWM from $5.50 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 12th. The Goldman Sachs Group set a $5.00 target price on UWM in a report on Tuesday, January 6th. Finally, Jefferies Financial Group set a $4.40 price target on UWM in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, UWM presently has an average rating of "Hold" and an average target price of $6.20.

About UWM

United Wholesale Mortgage NYSE: UWMC is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.

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