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 UWM stock in a transaction on Friday, January 9th. The shares were sold at an average price of $5.27, for a total transaction of $3,335,245.98. Following the completion of the transaction, the chief executive officer owned 3,149,753 shares in the company, valued at approximately $16,599,198.31. This trade represents a 16.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $3,385,875.90.
• 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 value 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 value 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 value 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 stock was sold at an average price of $4.57, for a total transaction of $2,892,234.18.
• On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The shares were sold at an average price of $4.66, for a total transaction 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 transaction 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 transaction of $3,349,209.89.

UWM Stock Down 0.1%

UWM stock traded down $0.01 during trading on Monday, reaching $5.35. 16,551,658 shares of the company’s stock were exchanged, 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 company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40. The company’s 50-day moving average is $5.16 and its two-hundred day moving average is $5.25.

UWM (NYSE:UWMC) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $151.14 million during 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%. As a group, analysts forecast that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.40 annualized dividend and a yield of 7.5%.

Institutional Investors Weigh In On UWM

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of UWM by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company’s stock valued at $105,252,000 after acquiring an additional 1,010,907 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in UWM by 116.6% during the second quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company’s stock valued at $24,803,000 after purchasing an additional 3,224,806 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of UWM during the third quarter worth $32,630,000. Bank of America Corp DE lifted its position in shares of UWM by 40.5% in the 3rd quarter. Bank of America Corp DE now owns 5,279,523 shares of the company’s stock worth $32,152,000 after buying an additional 1,520,923 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of UWM by 165.5% in the 3rd quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company’s stock valued at $30,382,000 after buying an additional 3,109,591 shares during the period. 53.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of UWM in a research note on Wednesday, October 8th. Barclays raised their price target on shares of UWM from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Wall Street Zen lowered shares of UWM from a “hold” rating to a “strong sell” rating in a report on Saturday, November 15th. Morgan Stanley set a $6.00 target price on UWM in a research note on Tuesday, December 16th. Finally, Zacks Research raised UWM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.53.

About UWM

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.