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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 596,356 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $5.76, for a total value of $3,435,010.56. Following the completion of the sale, the chief executive officer directly owned 28,968 shares of the company’s stock, valued at approximately $166,855.68. This represents a 95.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, October 31st, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.59, for a total value of $3,333,630.04.
• On Wednesday, October 29th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.70, for a total value of $3,399,229.20.
• On Monday, October 27th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.83, for a total value of $3,476,755.48.
• On Friday, October 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.87, for a total value of $3,500,609.72.
• On Wednesday, October 22nd, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.73, for a total value of $3,417,119.88.
• On Monday, October 20th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.56, for a total value of $3,315,739.36.
• On Friday, October 17th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.37, for a total value of $3,202,431.72.
• On Wednesday, October 15th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.39, for a total value of $3,214,358.84.
• On Monday, October 13th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12.
• On Friday, October 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.34, for a total value of $3,184,541.04.

UWM Stock Performance

Shares of UWM stock traded up $0.21 during trading on Monday, reaching $5.84. The company’s stock had a trading volume of 10,402,101 shares, compared to its average volume of 6,605,840. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.55 and a current ratio of 1.55. The business’s fifty day moving average price is $5.94 and its 200-day moving average price is $4.93. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of -116.70 and a beta of 1.79. UWM Holdings Corporation has a one year low of $3.80 and a one year high of $7.14.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $758.70 million for the quarter, compared to analyst estimates of $621.60 million. UWM had a negative return on equity of 5.56% and a net margin of 0.48%. As a group, equities research analysts predict that UWM Holdings Corporation will post 0.2 earnings per share for the current year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.9%. The ex-dividend date was Thursday, September 18th. UWM’s payout ratio is currently -800.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UWMC shares. Keefe, Bruyette & Woods lowered UWM from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $6.50 to $4.50 in a research note on Thursday, July 10th. Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barclays boosted their price target on UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Finally, BTIG Research restated a “buy” rating and set a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.46.

Hedge Funds Weigh In On UWM

Several institutional investors have recently bought and sold shares of UWMC. Balyasny Asset Management L.P. grew 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 last quarter. 683 Capital Management LLC acquired a new position in UWM during the 2nd quarter worth $19,872,000. Bank of America Corp DE lifted its holdings in UWM by 93.8% during the 2nd quarter. Bank of America Corp DE now owns 3,758,600 shares of the company’s stock worth $15,561,000 after buying an additional 1,819,129 shares in the last quarter. AQR Capital Management LLC raised its position in shares of UWM by 1,144.7% during the 1st quarter. AQR Capital Management LLC now owns 2,496,805 shares of the company’s stock valued at $13,633,000 after acquiring an additional 2,296,205 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of UWM by 47.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,414,282 shares of the company’s stock valued at $9,997,000 after acquiring an additional 777,264 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.

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.