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

Key Points

• Ishbia Mat, the CEO of UWM Holdings, sold 596,356 shares of the company stock for approximately $4.08 million, reducing his ownership by 7.55%.
• Despite the sales, Ishbia Mat still holds 7.3 million shares valued around $49.94 million.
• UWM recently announced a $0.10 quarterly dividend, aiming for a yield of 5.9%, with the ex-dividend date on September 18th.

UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 596,356 shares of UWM stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $6.84, for a total value of $4,079,075.04. Following the completion of the sale, the chief executive officer directly owned 6,705,072 shares in the company, valued at approximately $45,862,692.48. This represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, September 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $6.81, for a total value of $4,061,184.36.
• On Friday, September 12th, Ishbia Mat sold 400,056 shares of UWM stock. The shares were sold at an average price of $6.88, for a total value of $2,752,385.28.
• On Wednesday, September 10th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $6.77, for a total value of $2,708,243.72.
• On Monday, September 8th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $6.44, for a total value of $2,576,231.84.
• On Thursday, September 4th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.81, for a total value of $2,324,209.16.
• On Tuesday, September 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.59, for a total value of $2,236,201.24.
• On Friday, August 29th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.70, for a total value of $2,280,205.20.
• 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 value 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 value of $2,292,206.28.
• On Friday, August 22nd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $5.78, for a total value of $2,312,208.08.

UWM Stock Down 2.4%

UWMC stock traded down $0.16 during mid-day trading on Friday, reaching $6.41. The company had a trading volume of 14,707,430 shares, compared to its average volume of 7,591,485. 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 50 day simple moving average of $5.28 and a two-hundred day simple moving average of $4.89. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of -128.20 and a beta of 1.76. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $8.73.

UWM (NYSE:UWMC - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. UWM had a negative return on equity of 5.56% and a net margin of 0.48%.The company had revenue of $758.70 million during the quarter, compared to the consensus estimate of $621.60 million. 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. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Thursday, September 18th. UWM's payout ratio is currently -800.00%.

Hedge Funds Weigh In On UWM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its holdings in UWM by 15.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 408,182 shares of the company's stock valued at $2,229,000 after acquiring an additional 54,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of UWM by 112.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 118,720 shares of the company's stock worth $648,000 after buying an additional 62,862 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of UWM during the 1st quarter worth $65,000. GAMMA Investing LLC raised its holdings in shares of UWM by 101.8% during the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after buying an additional 2,958 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of UWM by 25.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,014 shares of the company's stock worth $176,000 after buying an additional 6,181 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen upgraded UWM from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods downgraded 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 research note on Thursday, July 10th. The Goldman Sachs Group reduced their price target on UWM from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, July 2nd. Finally, Barclays upgraded UWM from an "equal weight" rating to an "overweight" rating and set a $6.00 price target for the company in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.