UWM (NYSE:UWMC) CEO Sells $2,917,549.14 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $4.61, for a total value of $2,917,549.14. Following the completion of the sale, the chief executive officer directly owned 3,692,273 shares in the company, valued at approximately $17,021,378.53. The trade was a 14.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $3,196,013.70.
• On Monday, February 2nd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.20, for a total value 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 value 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 value of $3,727,627.86.
• On Monday, January 26th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.75, for a total transaction of $3,639,025.50.
• On Thursday, January 22nd, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.87, for a total transaction of $3,714,970.38.
• On Tuesday, January 20th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.82, for a total transaction of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $6.04, for a total transaction of $3,822,558.96.
• On Wednesday, January 14th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $5.46, for a total transaction of $3,455,492.04.

UWM Stock Performance

NYSE:UWMC opened at $4.68 on Thursday. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.14. The company has a fifty day simple moving average of $5.16 and a two-hundred day simple moving average of $5.43. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.45 and a current ratio of 1.45.

Institutional Trading of UWM

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of UWM by 5,681.9% in the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock valued at $25,000 after acquiring an additional 4,091 shares during the period. GAMMA Investing LLC grew its position in UWM by 408.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock worth $33,000 after purchasing an additional 4,344 shares during the last quarter. Advisory Services Network LLC acquired a new position in UWM in the third quarter valued at $38,000. Raymond James Financial Inc. purchased a new stake in shares of UWM in the second quarter valued at about $35,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of UWM by 1,410.7% in the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after buying an additional 8,027 shares during the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

UWMC has been the subject of several recent research reports. The Goldman Sachs Group set a $5.00 price objective on UWM in a research note on Tuesday, January 6th. Morgan Stanley set a $6.00 price target on shares of UWM in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price objective on shares of UWM from $6.50 to $6.75 and gave the company a “market perform” rating in a research report on Thursday, December 18th. UBS Group lifted their price objective on shares of UWM from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Jefferies Financial Group assumed coverage on shares of UWM in a research note on Friday, December 19th. They set a “hold” rating and a $5.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, UWM currently has an average rating of “Hold” and a consensus price target of $6.53.

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.