Insider Selling: UWM (NYSE:UWMC) CEO Sells $3,714,970.38 in 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 stock was sold at an average price of $5.87, for a total transaction of $3,714,970.38. Following the completion of the sale, the chief executive officer directly owned 4,686,761 shares of the company’s stock, valued at approximately $27,511,287.07. This represents a 11.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, January 28th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.89, for a total value of $3,727,627.86.
• On Monday, January 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were 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 transaction of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was 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 shares were 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 stock was sold at an average price of $4.42, for a total value of $2,797,303.08.

UWM Stock Performance

UWMC stock opened at $5.90 on Thursday. The business has a 50 day moving average of $5.27 and a 200 day moving average of $5.38. UWM Holdings Corporation has a twelve month low of $3.80 and a twelve month 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 released its earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 6.81% and a net margin of 0.61%. Analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.40 annualized dividend and a yield of 6.8%.

Hedge Funds Weigh In On UWM

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

Analyst Ratings Changes

UWMC has been the subject of several analyst reports. The Goldman Sachs Group set a $5.00 price target on shares of UWM in a research report on Tuesday, January 6th. Morgan Stanley set a $6.00 target price on UWM in a research note on Tuesday, December 16th. Jefferies Financial Group assumed coverage on UWM in a research note on Friday, December 19th. They issued a “hold” rating and a $5.00 price target for the company. Wall Street Zen cut UWM from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 15th. Finally, Zacks Research upgraded UWM from a “strong sell” rating to a “hold” rating in a 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 given a Sell rating to the company. According to data from MarketBeat.com, UWM 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.