Key Points
- Ishbia Mat, UWM's CEO, sold 632,874 shares on Dec. 31 at an average of $4.37 for $2,765,659.38 and has reduced his direct stake by 64.59% to 346,997 shares, with multiple other large insider sales disclosed in December (SEC filing).
- UWM missed recent quarterly estimates (EPS $0.01 vs. $0.07 consensus) and reported revenue of $151.14M vs. $651.51M expected, while also declaring a quarterly $0.10 dividend (an annualized 9.1% yield).
UWM Holdings Corporation (NYSE:UWMC - Get Free Report) CEO Ishbia Mat sold 632,874 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $4.37, for a total value of $2,765,659.38. Following the sale, the chief executive officer directly owned 346,997 shares in the company, valued at $1,516,376.89. This represents a 64.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Ishbia Mat also recently made the following trade(s):
- On Friday, January 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.42, for a total value of $2,797,303.08.
- On Monday, December 29th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.42, for a total value of $2,797,303.08.
- On Friday, December 26th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.57, for a total transaction of $2,892,234.18.
- On Wednesday, December 24th, Ishbia Mat sold 449,997 shares of UWM stock. The shares were sold at an average price of $4.66, for a total value of $2,096,986.02.
- On Tuesday, December 23rd, Ishbia Mat sold 402,483 shares of UWM stock. The shares were sold at an average price of $4.70, for a total value of $1,891,670.10.
- On Friday, December 12th, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.47, for a total transaction of $3,349,209.89.
- On Wednesday, December 10th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.60, for a total transaction of $3,428,807.20.
- On Monday, December 8th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.67, for a total transaction of $3,471,667.29.
- On Friday, December 5th, Ishbia Mat sold 612,287 shares of UWM stock. The stock was sold at an average price of $5.78, for a total value of $3,539,018.86.
- On Wednesday, December 3rd, Ishbia Mat sold 612,287 shares of UWM stock. The shares were sold at an average price of $5.71, for a total transaction of $3,496,158.77.
UWM Stock Up 0.8%
Shares of UWMC opened at $4.42 on Friday. 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 Holdings Corporation has a 1-year low of $3.80 and a 1-year high of $7.14. The firm has a fifty day moving average price of $5.26 and a 200 day moving average price of $5.21.
UWM (NYSE:UWMC - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). UWM had a net margin of 0.61% and a negative return on equity of 6.81%. The firm had revenue of $151.14 million during the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.1%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on UWMC shares. Barclays boosted their target price on shares of UWM from $6.00 to $7.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Jefferies Financial Group initiated coverage on shares of UWM in a research report on Friday, December 19th. They set a "hold" rating and a $5.00 target price on the stock. BTIG Research reaffirmed a "buy" rating and issued a $10.00 target price on shares of UWM in a report on Monday, September 22nd. Wall Street Zen downgraded UWM from a "hold" rating to a "strong sell" rating in a research note on Saturday, November 15th. Finally, Zacks Research raised UWM from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.56.
Check Out Our Latest Research Report on UWMC
Institutional Investors Weigh In On UWM
A number of large investors have recently modified their holdings of UWMC. Tudor Investment Corp ET AL purchased a new stake in UWM during the 3rd quarter worth $12,237,000. Allworth Financial LP lifted its stake in UWM by 5,681.9% during the third quarter. Allworth Financial LP now owns 4,163 shares of the company's stock worth $25,000 after purchasing an additional 4,091 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of UWM during the 3rd quarter valued at about $709,000. Advisory Services Network LLC acquired a new stake in shares of UWM during the 3rd quarter worth approximately $38,000. Finally, Integrated Investment Consultants LLC acquired a new position in shares of UWM during the third quarter valued at $32,630,000. Institutional investors and hedge funds own 53.59% of the company's stock.
About UWM
(
Get Free Report)
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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