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

Key Points

• Ishbia Mat, CEO of UWM Holdings Corporation, sold 400,036 shares of the company's stock for approximately $2.31 million, reducing his ownership by 13.80%.
• Despite recent sales, Mat still owns about 2.5 million shares of UWM, valued at roughly $14.44 million post-transaction.
• The company's stock has a current price of $5.70, with a market capitalization of $9.12 billion and a recent earnings per share of $0.16, surpassing analysts' expectations.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 400,036 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.78, for a total transaction of $2,312,208.08. Following the completion of the sale, the chief executive officer directly owned 2,498,308 shares in the company, valued at $14,440,220.24. This represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, August 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.68, for a total transaction of $2,272,204.48.
• On Monday, August 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.73, for a total transaction of $2,292,206.28.
• On Wednesday, August 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.60, for a total transaction of $2,240,201.60.
• On Monday, August 18th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.35, for a total transaction of $2,140,192.60.
• On Friday, August 15th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.39, for a total transaction of $2,156,194.04.
• On Wednesday, August 13th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $5.45, for a total transaction of $2,180,196.20.
• On Monday, August 11th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.58, for a total transaction of $1,832,164.88.
• On Friday, August 8th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.58, for a total transaction of $1,832,164.88.
• On Wednesday, August 6th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.25, for a total transaction of $1,700,153.00.
• On Monday, August 4th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.25, for a total transaction of $1,700,153.00.

UWM Price Performance

UWMC stock traded up $0.11 during trading on Friday, reaching $5.69. 7,868,479 shares of the company were exchanged, compared to its average volume of 10,562,650. The company has a 50-day moving average of $4.62 and a two-hundred day moving average of $4.89. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of -113.70 and a beta of 1.70. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $9.45. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 1.55.

UWM (NYSE:UWMC - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $758.70 million during the quarter, compared to analysts' expectations of $621.60 million. UWM had a net margin of 0.48% and a negative return on equity of 5.56%. As a group, equities analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after buying an additional 2,958 shares during the last quarter. Signaturefd LLC raised its holdings in UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after buying an additional 4,693 shares during the last quarter. Raymond James Financial Inc. acquired a new position in UWM during the second quarter worth $35,000. Quarry LP acquired a new position in UWM during the first quarter worth $53,000. Finally, Focus Partners Wealth acquired a new position in UWM during the first quarter worth $55,000. Institutional investors and hedge funds own 53.59% of the company's stock.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of research reports. Wall Street Zen raised shares of UWM from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods lowered shares of UWM from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $6.50 to $4.50 in a report on Thursday, July 10th. Barclays raised shares of UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 target price on the stock in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group reduced their target price on shares of UWM from $6.00 to $5.25 and set a "neutral" rating on the stock in a report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, UWM currently has a consensus rating of "Hold" and an average target price of $5.54.

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.