Insider Selling: UWM Holdings Co. (NYSE:UWMC) CEO Sells $45,550,000.00 in Stock

UWM Holdings Co. (NYSE:UWMC) CEO Ishbia Mat sold 5,000,000 shares of UWM stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.11, for a total transaction of $45,550,000.00. Following the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,562,547.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

UWM Stock Performance

UWM stock opened at $8.79 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average of $8.33 and a 200-day moving average of $7.37. The stock has a market cap of $840.13 million, a P/E ratio of 293.00 and a beta of 1.63. UWM Holdings Co. has a 52 week low of $4.49 and a 52 week high of $9.74.

UWM (NYSE:UWMC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $540.31 million. During the same quarter last year, the business earned $0.11 EPS. On average, analysts expect that UWM Holdings Co. will post 0.28 EPS for the current fiscal year.

UWM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 4.55%. UWM’s dividend payout ratio (DPR) is 1,333.33%.

Institutional Trading of UWM

Institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of UWM in the 1st quarter valued at approximately $29,000. Atlas Capital Advisors LLC boosted its holdings in UWM by 190.5% in the first quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock worth $37,000 after purchasing an additional 3,309 shares during the period. CWM LLC increased its stake in UWM by 96.4% during the second quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after purchasing an additional 3,177 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of UWM during the second quarter worth $52,000. Finally, SageView Advisory Group LLC bought a new position in shares of UWM in the 1st quarter worth about $55,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UWMC shares. Keefe, Bruyette & Woods boosted their price objective on UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. BTIG Research upped their price target on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Barclays lifted their price objective on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their target price on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Wedbush raised their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.39.

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.