Insider Selling: UWM Holdings Corporation (NYSE:UWMC) CEO Sells 400,036 Shares of Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $4.17, for a total transaction of $1,668,150.12. Following the transaction, the chief executive officer directly owned 4,899,280 shares in the company, valued at approximately $20,429,997.60. This trade represents a 7.55% decrease in their ownership of the stock. The sale 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 Monday, July 14th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.22, for a total transaction of $1,688,151.92.
• On Friday, July 11th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.14, for a total transaction of $1,656,149.04.
• On Wednesday, July 9th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.26, for a total transaction of $1,704,153.36.
• On Monday, July 7th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.05, for a total transaction of $1,620,145.80.
• On Wednesday, July 2nd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.32, for a total transaction of $1,728,155.52.
• On Monday, June 30th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.13, for a total transaction of $1,652,148.68.
• On Friday, June 27th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.12, for a total transaction of $1,648,148.32.
• On Wednesday, June 25th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.14, for a total transaction of $1,656,149.04.
• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.10, for a total transaction of $1,640,147.60.
• On Friday, June 20th, Ishbia Mat sold 400,036 shares of UWM stock. The shares were sold at an average price of $4.02, for a total transaction of $1,608,144.72.

UWM Stock Down 0.8%

Shares of NYSE:UWMC opened at $4.18 on Friday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of -32.12 and a beta of 1.68. UWM Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $9.74. The company’s fifty day moving average is $4.17 and its two-hundred day moving average is $5.13. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.50 and a current ratio of 1.50.

UWM (NYSE:UWMC) last issued its earnings results on Tuesday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.29). The business had revenue of $613.37 million for the quarter, compared to analyst estimates of $558.80 million. UWM had a negative return on equity of 3.86% and a negative net margin of 0.36%. Equities analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 9.58%. UWM’s dividend payout ratio is presently -307.69%.

Hedge Funds Weigh In On UWM

Several large investors have recently made changes to their positions in UWMC. GAMMA Investing LLC lifted its stake in UWM by 101.8% during the first quarter. GAMMA Investing LLC now owns 5,863 shares of the company’s stock valued at $32,000 after buying an additional 2,958 shares in the last quarter. Signaturefd LLC lifted its stake in UWM by 135.4% during the first quarter. Signaturefd LLC now owns 8,159 shares of the company’s stock valued at $45,000 after buying an additional 4,693 shares in the last quarter. Quarry LP purchased a new stake in UWM during the first quarter valued at about $53,000. Focus Partners Wealth purchased a new stake in UWM during the first quarter valued at about $55,000. Finally, Independent Advisor Alliance purchased a new stake in UWM during the first quarter valued at about $58,000. Institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

UWMC has been the subject of a number of research reports. UBS Group upgraded shares of UWM from a “sell” rating to a “neutral” rating and cut their target price for the stock from $4.75 to $4.50 in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on shares of UWM from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered shares of UWM from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $6.50 to $4.50 in a research report on Thursday, July 10th. Finally, Barclays raised shares of UWM from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.18.

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.