UWM (NYSE:UWMC) CEO Ishbia Mat Sells 632,874 Shares

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of UWM stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $4.77, for a total transaction of $3,018,808.98. Following the transaction, the chief executive officer directly owned 5,862,155 shares in the company, valued at $27,962,479.35. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, February 23rd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.52, for a total transaction of $2,860,590.48.
• 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 stock was 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 shares were sold at an average price of $5.05, for a total transaction of $3,196,013.70.
• On Monday, February 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.20, for a total transaction of $3,290,944.80.
• On Friday, January 30th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.00, for a total transaction of $3,164,370.00.
• On Wednesday, January 28th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.89, for a total transaction of $3,727,627.86.

UWM Stock Performance

Shares of UWMC stock traded down $0.11 during trading hours on Monday, hitting $4.52. The company had a trading volume of 11,027,439 shares, compared to its average volume of 18,401,078. UWM Holdings Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.45 and a current ratio of 1.45. The company’s fifty day moving average is $5.05 and its 200 day moving average is $5.47.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley set a $6.00 target price on UWM in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price target on shares of UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Wall Street Zen lowered shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Jefferies Financial Group initiated coverage on shares of UWM in a report on Friday, December 19th. They set a “hold” rating and a $5.00 target price on the stock. Finally, The Goldman Sachs Group set a $5.00 price target on shares of UWM in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, UWM presently has a consensus rating of “Hold” and an average target price of $6.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kera Capital Partners Inc. acquired a new stake in UWM during the fourth quarter worth approximately $47,000. Virtu Financial LLC acquired a new stake in UWM during the 4th quarter worth $1,799,000. Invesco Ltd. lifted its position in UWM by 504.1% in the fourth quarter. Invesco Ltd. now owns 1,498,979 shares of the company’s stock valued at $6,566,000 after acquiring an additional 1,250,845 shares during the last quarter. Corient Private Wealth LLC boosted its stake in UWM by 258.0% in the fourth quarter. Corient Private Wealth LLC now owns 103,471 shares of the company’s stock valued at $453,000 after acquiring an additional 74,565 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of UWM by 78.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 126,251 shares of the company’s stock worth $553,000 after purchasing an additional 55,437 shares during the last quarter. 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.