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 transaction of $3,714,970.38. Following the completion of the transaction, the chief executive officer directly owned 4,686,761 shares in the company, valued at $27,511,287.07. This represents a 11.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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 value of $3,639,025.50.
• On Tuesday, January 20th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.82, for a total value 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 value of $3,822,558.96.
• On Wednesday, January 14th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.46, for a total value of $3,455,492.04.
• On Monday, January 12th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.35, for a total value 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 stock was 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 shares were 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 shares were sold at an average price of $4.37, for a total transaction of $2,765,659.38.

UWM Price Performance

UWMC stock traded down $0.03 during mid-day trading on Monday, reaching $5.77. The company’s stock had a trading volume of 8,582,788 shares, compared to its average volume of 18,916,229. The company’s 50 day moving average is $5.22 and its two-hundred day moving average is $5.35. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, sell-side analysts expect that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, December 18th.

Institutional Investors Weigh In On UWM

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP boosted its position in shares of UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after purchasing an additional 4,091 shares during the period. GAMMA Investing LLC lifted its stake in UWM by 408.7% during the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after purchasing an additional 4,344 shares in the last quarter. Raymond James Financial Inc. acquired a new position in UWM during the second quarter worth $35,000. Farther Finance Advisors LLC boosted its position in shares of UWM by 1,410.7% during the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock worth $38,000 after buying an additional 8,027 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of UWM during the third quarter worth $38,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on UWMC shares. Weiss Ratings reissued a “sell (d+)” rating on shares of UWM in a report on Wednesday, October 8th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a report on Tuesday, January 6th. Wall Street Zen cut shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Morgan Stanley set a $6.00 price target on shares of UWM in a research report on Tuesday, December 16th. Finally, UBS Group upped their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, UWM presently has an average rating of “Hold” and a consensus 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.