Key Points
- Ishbia Mat, UWM's CEO, sold 612,287 shares on December 3 at about $5.71 per share for roughly $3.50M, leaving him with 8,016,982 shares (a 7.1% reduction in his stake).
- The December 3 sale is part of a string of large insider dispositions from early November through December (multiple transactions of several hundred thousand shares), indicating sustained insider selling.
- UWM recently missed quarterly expectations (reported $0.01 EPS vs. $0.07 expected and revenue of $151.1M vs. $651.5M expected) but declared a quarterly dividend of $0.10 per share (annualized yield ~7.1%).
UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 612,287 shares of UWM stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $5.71, for a total transaction of $3,496,158.77. Following the completion of the transaction, the chief executive officer owned 8,016,982 shares in the company, valued at approximately $45,776,967.22. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Ishbia Mat also recently made the following trade(s):
- On Monday, December 1st, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.80, for a total value of $3,551,264.60.
- On Friday, November 28th, Ishbia Mat sold 437,073 shares of UWM stock. The shares were sold at an average price of $5.85, for a total transaction of $2,556,877.05.
- On Wednesday, November 26th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.81, for a total transaction of $3,464,828.36.
- On Monday, November 24th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.21, for a total transaction of $3,107,014.76.
- On Friday, November 21st, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.09, for a total transaction of $3,035,452.04.
- On Wednesday, November 19th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $4.96, for a total transaction of $2,957,925.76.
- On Monday, November 17th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $4.94, for a total value of $2,945,998.64.
- On Thursday, November 13th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.27, for a total value of $3,142,796.12.
- On Monday, November 10th, Ishbia Mat sold 596,356 shares of UWM stock. The stock was sold at an average price of $5.47, for a total value of $3,262,067.32.
- On Friday, November 7th, Ishbia Mat sold 596,356 shares of UWM stock. The shares were sold at an average price of $5.18, for a total value of $3,089,124.08.
UWM Price Performance
NYSE UWMC opened at $5.66 on Thursday. The company has a 50 day simple moving average of $5.57 and a 200-day simple moving average of $5.09. UWM Holdings Corporation has a 52-week low of $3.80 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45.
UWM (NYSE:UWMC - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). UWM had a negative return on equity of 6.81% and a net margin of 0.61%.The company had revenue of $151.14 million during the quarter, compared to analysts' expectations of $651.51 million. Research analysts anticipate that UWM Holdings Corporation will post 0.2 EPS for the current fiscal year.
UWM Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a yield of 7.1%.
Analysts Set New Price Targets
UWMC has been the subject of a number of recent research reports. BTIG Research reaffirmed a "buy" rating and set a $10.00 price target on shares of UWM in a research note on Monday, September 22nd. Zacks Research raised shares of UWM from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 7th. Weiss Ratings restated a "sell (d+)" rating on shares of UWM in a research note on Wednesday, October 8th. Wall Street Zen cut shares of UWM from a "hold" rating to a "strong sell" rating in a report on Saturday, November 15th. Finally, Barclays raised their target price on UWM from $6.00 to $7.00 and gave the company an "overweight" rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.54.
Get Our Latest Report on UWM
Institutional Investors Weigh In On UWM
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of UWM by 6.2% in the third quarter. Vanguard Group Inc. now owns 17,282,688 shares of the company's stock worth $105,252,000 after purchasing an additional 1,010,907 shares during the period. Balyasny Asset Management L.P. grew its holdings in UWM by 116.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,991,072 shares of the company's stock valued at $24,803,000 after buying an additional 3,224,806 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in UWM in the 3rd quarter worth approximately $32,630,000. Bank of America Corp DE lifted its holdings in shares of UWM by 40.5% during the third quarter. Bank of America Corp DE now owns 5,279,523 shares of the company's stock worth $32,152,000 after buying an additional 1,520,923 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of UWM by 165.5% in the third quarter. Two Sigma Investments LP now owns 4,988,898 shares of the company's stock valued at $30,382,000 after acquiring an additional 3,109,591 shares during the period. 53.59% of the stock is currently owned by institutional investors.
About UWM
(
Get Free Report)
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.
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