Insider Selling: UWM Holdings Corporation (NYSE:UWMC) CEO Sells 400,036 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction on Monday, July 7th. The stock was sold at an average price of $4.05, for a total value of $1,620,145.80. Following the completion of the transaction, the chief executive officer owned 3,499,532 shares in the company, valued at $14,173,104.60. The trade was a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, July 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.32, for a total value of $1,728,155.52.
• On Monday, June 30th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.13, for a total value of $1,652,148.68.
• On Friday, June 27th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.12, for a total value of $1,648,148.32.
• On Wednesday, June 25th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.14, for a total value of $1,656,149.04.
• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.10, for a total value of $1,640,147.60.
• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.02, for a total value of $1,608,144.72.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Stock Down 2.6%

Shares of NYSE:UWMC traded down $0.11 on Thursday, reaching $4.15. The company had a trading volume of 8,394,561 shares, compared to its average volume of 3,887,486. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.74. The stock has a 50-day moving average price of $4.20 and a 200 day moving average price of $5.19. The stock has a market capitalization of $6.64 billion, a P/E ratio of -31.92 and a beta of 1.68. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.29). The company had revenue of $613.37 million during the quarter, compared to analyst estimates of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. On average, equities analysts expect 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, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 annualized dividend and a yield of 9.64%. UWM's dividend payout ratio is -307.69%.

Analysts Set New Price Targets

UWMC has been the subject of a number of research reports. Keefe, Bruyette & Woods cut UWM from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $6.50 to $4.50 in a research report on Thursday. UBS Group raised UWM from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $4.75 to $4.50 in a research report on Wednesday, April 16th. 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, Barclays raised UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, UWM presently has an average rating of "Hold" and a consensus price target of $6.18.

Hedge Funds Weigh In On UWM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 2,958 shares during the period. Signaturefd LLC grew its position in UWM by 135.4% during the 1st quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after acquiring an additional 4,693 shares during the last quarter. Quarry LP bought a new stake in UWM during the 1st quarter worth approximately $53,000. Focus Partners Wealth bought a new stake in UWM during the 1st quarter worth approximately $55,000. Finally, Independent Advisor Alliance bought a new stake in UWM during the 1st quarter worth approximately $58,000. 53.59% of the stock is currently owned by institutional investors.

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.