UWM (NYSE:UWMC) Hits New 52-Week Low Following Insider Selling

UWM Holdings Corporation (NYSE:UWMC - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday following insider selling activity. The stock traded as low as $3.80 and last traded at $3.86, with a volume of 810583 shares. The stock had previously closed at $3.84.

Specifically, CEO Ishbia Mat sold 400,036 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $3.99, for a total transaction of $1,596,143.64. Following the transaction, the chief executive officer now owns 4,099,964 shares in the company, valued at approximately $16,358,856.36. This represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

UWMC has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price target on shares of UWM from $7.50 to $6.50 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wedbush reissued a "neutral" rating and issued a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. The Goldman Sachs Group reduced their target price on shares of UWM from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group upgraded UWM from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.86.

UWM Trading Up 0.4%

The company has a debt-to-equity ratio of 1.87, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $6.16 billion, a P/E ratio of -29.65 and a beta of 1.70. The stock has a 50 day moving average of $4.32 and a 200 day moving average of $5.41.

UWM (NYSE:UWMC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $613.37 million during the quarter, compared to the consensus estimate of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. As a group, equities research analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.40 annualized dividend and a dividend yield of 10.38%. UWM's dividend payout ratio is currently -307.69%.

Hedge Funds Weigh In On UWM

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in UWM by 101.8% in the 1st quarter. GAMMA Investing LLC now owns 5,863 shares of the company's stock worth $32,000 after purchasing an additional 2,958 shares in the last quarter. Signaturefd LLC raised its holdings in UWM by 135.4% in the first quarter. Signaturefd LLC now owns 8,159 shares of the company's stock worth $45,000 after purchasing an additional 4,693 shares in the last quarter. Quarry LP purchased a new position in UWM during the first quarter valued at $53,000. Focus Partners Wealth bought a new stake in shares of UWM during the 1st quarter valued at $55,000. Finally, Independent Advisor Alliance purchased a new stake in shares of UWM in the 1st quarter worth about $58,000. 53.59% of the stock is owned by hedge funds and other 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.

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