Insider Selling: UWM (NYSE:UWMC) CEO Sells 632,874 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.87, for a total value of $3,714,970.38. Following the transaction, the chief executive officer owned 4,686,761 shares of the company’s stock, valued at $27,511,287.07. This trade represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, January 26th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.75, for a total transaction of $3,639,025.50.
• On Tuesday, January 20th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.82, for a total transaction of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $6.04, for a total transaction of $3,822,558.96.
• On Wednesday, January 14th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.46, for a total transaction of $3,455,492.04.
• On Monday, January 12th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.35, for a total transaction of $3,385,875.90.
• On Friday, January 9th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.27, for a total transaction of $3,335,245.98.
• On Wednesday, January 7th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.70, for a total transaction of $2,974,507.80.
• On Monday, January 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.43, for a total value of $2,803,631.82.
• On Friday, January 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.42, for a total value of $2,797,303.08.
• On Wednesday, December 31st, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.37, for a total value of $2,765,659.38.

UWM Price Performance

UWMC traded down $0.03 on Monday, hitting $5.77. 8,582,788 shares of the company were exchanged, compared to its average volume of 18,916,229. The firm has a 50-day moving average price of $5.22 and a two-hundred day moving average price of $5.35. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month high of $7.14.

UWM (NYSE:UWMC) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The company had revenue of $151.14 million during the quarter, compared to analysts’ expectations of $651.51 million. Equities research analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were paid a $0.10 dividend. The ex-dividend date was Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a yield of 6.9%.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in UWMC. Oak Thistle LLC acquired a new stake in shares of UWM in the 3rd quarter worth $1,337,000. Hsbc Holdings PLC purchased a new position in UWM during the second quarter worth about $792,000. AGF Management Ltd. acquired a new stake in UWM in the second quarter valued at about $3,072,000. 683 Capital Management LLC purchased a new stake in UWM in the 2nd quarter valued at approximately $19,872,000. Finally, Capital Fund Management S.A. boosted its holdings in UWM by 260.9% in the 2nd quarter. Capital Fund Management S.A. now owns 573,583 shares of the company’s stock valued at $2,375,000 after purchasing an additional 414,667 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $5.00 price objective on shares of UWM in a report on Tuesday, January 6th. Wall Street Zen cut UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UWM in a research report on Wednesday, October 8th. Barclays increased their price objective on UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Finally, Jefferies Financial Group started coverage on UWM in a research note on Friday, December 19th. They set a “hold” rating and a $5.00 target price for the company. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.53.

UWM Company Profile

United Wholesale Mortgage (NYSE: UWMC) is a leading mortgage lender in the United States specializing in the wholesale channel. The company partners with independent mortgage brokers, community banks and credit unions to offer a full suite of residential mortgage products. Through its network of third-party originators, United Wholesale Mortgage underwrites, funds and closes loans, allowing its partners to focus on customer acquisition and service.

The company’s product offerings include conventional fixed- and adjustable-rate mortgages, Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans, U.S.