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 company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $5.35, for a total transaction of $3,385,875.90. Following the sale, the chief executive officer directly owned 2,516,879 shares of the company’s stock, valued at $13,465,302.65. The trade was a 20.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction of $2,803,631.82.
• On Friday, January 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total transaction of $2,797,303.08.
• On Wednesday, December 31st, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.37, for a total value of $2,765,659.38.
• On Monday, December 29th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.42, for a total value of $2,797,303.08.
• On Friday, December 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.57, for a total value of $2,892,234.18.
• On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The stock was sold at an average price of $4.66, for a total value of $2,096,986.02.
• On Tuesday, December 23rd, Ishbia Mat sold 402,483 shares of UWM stock. The stock was sold at an average price of $4.70, for a total value of $1,891,670.10.
• On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.47, for a total value of $3,349,209.89.

UWM Stock Down 0.1%

UWM stock traded down $0.01 during midday trading on Monday, hitting $5.35. The stock had a trading volume of 16,551,658 shares, compared to its average volume of 19,834,766. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $7.14. The firm’s fifty day moving average is $5.16 and its two-hundred day moving average is $5.25. 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 (NYSE:UWMC) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $151.14 million for the quarter, compared to analysts’ expectations of $651.51 million. UWM had a net margin of 0.61% and a negative return on equity of 6.81%. On average, equities analysts expect that UWM Holdings Corporation will post 0.2 earnings per share for the current fiscal year.

UWM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Thursday, December 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UWMC. State of Wyoming increased its position in UWM by 24.9% in the third quarter. State of Wyoming now owns 14,552 shares of the company’s stock worth $89,000 after purchasing an additional 2,902 shares during the last quarter. Arizona State Retirement System grew its stake in shares of UWM by 8.1% in the 3rd quarter. Arizona State Retirement System now owns 50,661 shares of the company’s stock worth $309,000 after buying an additional 3,785 shares in the last quarter. Allworth Financial LP increased its holdings in shares of UWM by 5,681.9% in the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after buying an additional 4,091 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of UWM by 408.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after buying an additional 4,344 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of UWM by 23.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,929 shares of the company’s stock valued at $99,000 after buying an additional 4,552 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UWMC shares. Morgan Stanley set a $6.00 price objective on UWM in a research note on Tuesday, December 16th. Barclays upped their price target on UWM from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Jefferies Financial Group initiated coverage on shares of UWM in a research report on Friday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. UBS Group boosted their target price on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods raised their target price on shares of UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.