Insider Selling: UWM Holdings Corporation (NYSE:UWMC) CEO Sells $1,608,144.72 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 400,036 shares of UWM stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $4.02, for a total value of $1,608,144.72. Following the transaction, the chief executive officer now owns 3,299,892 shares in the company, valued at approximately $13,265,565.84. The trade was a 10.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, June 23rd, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $4.10, for a total value of $1,640,147.60.
• On Tuesday, June 17th, Ishbia Mat sold 400,036 shares of UWM stock. The stock was sold at an average price of $3.99, for a total value of $1,596,143.64.

UWM Price Performance

UWMC stock opened at $4.14 on Thursday. The business has a fifty day moving average of $4.27 and a two-hundred day moving average of $5.32. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.87. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of -31.85 and a beta of 1.70. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $9.74.

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

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.66%. UWM’s payout ratio is presently -307.69%.

Institutional Investors Weigh In On UWM

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of UWM by 37.6% in the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company’s stock valued at $69,060,000 after buying an additional 3,212,081 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of UWM in the fourth quarter valued at $121,000. Wells Fargo & Company MN grew its stake in shares of UWM by 9.9% in the fourth quarter. Wells Fargo & Company MN now owns 64,970 shares of the company’s stock valued at $381,000 after buying an additional 5,849 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of UWM by 1,002.0% in the first quarter. GAMMA Investing LLC now owns 32,012 shares of the company’s stock valued at $175,000 after buying an additional 29,107 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of UWM by 25.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,014 shares of the company’s stock valued at $176,000 after buying an additional 6,181 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UWMC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on UWM from $7.50 to $6.50 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Wedbush reiterated a “neutral” rating and set a $6.50 price objective on shares of UWM in a research report on Monday, March 3rd. The Goldman Sachs Group cut their target price on UWM from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group raised 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 note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, UWM has an average rating of “Hold” and an average target price of $6.86.

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.