Insider Selling: UWM Holdings Co. (NYSE:UWMC) CEO Sells 1,200,000 Shares of Stock

UWM Holdings Co. (NYSE:UWMC) CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, August 30th, Ishbia Mat sold 5,000,000 shares of UWM stock. The stock was sold at an average price of $9.11, for a total transaction of $45,550,000.00.

UWM Price Performance

UWMC opened at $8.94 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $8.63 and its 200 day simple moving average is $7.50. The firm has a market cap of $853.99 million, a price-to-earnings ratio of 297.83 and a beta of 1.63. UWM Holdings Co. has a 1 year low of $4.49 and a 1 year high of $9.74.

UWM (NYSE:UWMC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to the consensus estimate of $540.31 million. During the same period in the prior year, the company earned $0.11 EPS. As a group, analysts predict that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.48%. UWM’s dividend payout ratio is currently 1,333.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC bought a new stake in shares of UWM in the 1st quarter worth approximately $29,000. Atlas Capital Advisors LLC increased its position in UWM by 190.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,046 shares of the company’s stock valued at $37,000 after purchasing an additional 3,309 shares during the period. CWM LLC raised its holdings in UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock worth $45,000 after purchasing an additional 3,177 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of UWM in the 2nd quarter worth about $52,000. Finally, Quadrant Capital Group LLC raised its stake in UWM by 63.1% in the fourth quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock worth $55,000 after buying an additional 2,952 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UWMC shares. The Goldman Sachs Group upped their price target on shares of UWM from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, August 8th. UBS Group upped their target price on UWM from $4.50 to $4.75 and gave the stock a “sell” rating in a research note on Thursday, September 5th. Wedbush lifted their price target on UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. BTIG Research upped their price objective on shares of UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, Barclays lifted their target price on shares of UWM from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.39.

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.