Insider Selling: UWM (NYSE:UWMC) CEO Sells 632,874 Shares of Stock
by Tristan Rich · The Markets DailyUWM Holdings Corporation (NYSE:UWMC – Get Free Report) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $4.25, for a total value of $2,689,714.50. Following the completion of the transaction, the chief executive officer directly owned 7,399,163 shares in the company, valued at $31,446,442.75. The trade was a 7.88% decrease in their ownership of the stock. 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 Thursday, March 5th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.11, for a total value 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 transaction of $2,860,590.48.
- On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.77, for a total transaction of $3,018,808.98.
- On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.88, for a total transaction 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 stock was 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 transaction 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 transaction of $3,196,013.70.
UWM Stock Performance
UWM stock traded down $0.13 during mid-day trading on Thursday, reaching $4.05. The company had a trading volume of 24,255,243 shares, compared to its average volume of 19,346,691. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 2.64. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 67.50 and a beta of 1.90. The company has a 50 day moving average of $4.96 and a 200-day moving average of $5.43. UWM Holdings Corporation has a 52 week low of $3.79 and a 52 week high of $7.14.
UWM (NYSE:UWMC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $945.25 million for the quarter, compared to analyst estimates of $759.12 million. UWM had a negative return on equity of 1.35% and a net margin of 0.87%. On average, sell-side analysts expect 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 will be paid on Thursday, April 9th. Investors of record on Thursday, March 19th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.9%. UWM’s dividend payout ratio (DPR) is 666.67%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Brandes Investment Partners LP bought a new position in UWM during the 4th quarter worth $45,867,000. Azora Capital LP boosted its holdings in shares of 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 purchasing an additional 7,881,586 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in shares of UWM in the 3rd quarter valued at $32,630,000. Renaissance Technologies LLC acquired a new position in shares of UWM during the 4th quarter worth $21,580,000. Finally, 683 Capital Management LLC bought a new stake in shares of UWM during the 2nd quarter worth $19,872,000. 53.59% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on UWMC shares. Weiss Ratings raised UWM from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, February 26th. Barclays decreased their price objective on UWM from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. UBS Group upped their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. The Goldman Sachs Group set a $5.00 target price on shares of UWM in a report on Tuesday, January 6th. Finally, Wall Street Zen raised UWM from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, UWM has an average rating of “Hold” and a consensus target price of $6.20.
Read Our Latest Stock Analysis on UWMC
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.
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