Insider Selling: UWM (NYSE:UWMC) CEO Sells $2,689,714.50 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $4.25, for a total transaction of $2,689,714.50. Following the completion of the transaction, the chief executive officer directly owned 7,399,163 shares of the company’s stock, valued at $31,446,442.75. This trade represents a 7.88% 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 Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.11, for a total transaction of $2,601,112.14.
• On Wednesday, February 25th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.03, for a total transaction of $2,550,482.22.
• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.52, for a total value of $2,860,590.48.
• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.77, for a total value of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.88, for a total value of $3,088,425.12.
• On Friday, February 13th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.94, for a total value of $3,126,397.56.
• On Wednesday, February 11th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.66, for a total value of $2,949,192.84.
• On Monday, February 9th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.61, for a total value of $2,917,549.14.
• On Friday, February 6th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.84, for a total value of $3,063,110.16.
• On Wednesday, February 4th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.05, for a total value of $3,196,013.70.

UWM Stock Performance

UWMC stock opened at $3.85 on Friday. UWM Holdings Corporation has a 1 year low of $3.79 and a 1 year high of $7.14. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 64.17 and a beta of 1.90. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s fifty day moving average is $4.94 and its two-hundred day moving average is $5.41.

UWM (NYSE:UWMC) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). UWM had a negative return on equity of 1.35% and a net margin of 0.87%.The firm had revenue of $945.25 million for the quarter, compared to the consensus estimate of $759.12 million. On average, research analysts predict that UWM Holdings Corporation will post 0.2 EPS for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be given a $0.10 dividend. The ex-dividend date is Thursday, March 19th. This represents a $0.40 annualized dividend and a yield of 10.4%. UWM’s dividend payout ratio is 666.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UWMC. Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group boosted their price target on UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Barclays lowered their price target on UWM from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Morgan Stanley set a $6.00 price objective on shares of UWM in a report on Tuesday, December 16th. Finally, Zacks Research cut shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, UWM has a consensus rating of “Hold” and a consensus target price of $6.20.

Institutional Trading of UWM

Institutional investors have recently modified their holdings of the company. Brandes Investment Partners LP acquired a new position in UWM during the fourth quarter worth about $45,867,000. Azora Capital LP lifted its holdings in UWM by 230.8% in the 4th quarter. Azora Capital LP now owns 11,296,053 shares of the company’s stock valued at $49,477,000 after acquiring an additional 7,881,586 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of UWM during the 3rd quarter valued at about $32,630,000. Renaissance Technologies LLC bought a new position in shares of UWM during the 4th quarter valued at about $21,580,000. Finally, 683 Capital Management LLC acquired a new position in shares of UWM in the 2nd quarter worth approximately $19,872,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.