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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $4.84, for a total transaction of $3,063,110.16. Following the completion of the sale, the chief executive officer directly owned 4,325,147 shares in the company, valued at approximately $20,933,711.48. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $2,917,549.14.
• 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 stock was 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 stock was 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 value of $3,639,025.50.
• On Thursday, January 22nd, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $5.87, for a total value 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 value of $3,683,326.68.
• On Friday, January 16th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $6.04, for a total value 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 Down 2.3%

NYSE:UWMC opened at $4.64 on Tuesday. UWM Holdings Corporation has a 12-month low of $3.80 and a 12-month high of $7.14. The company’s 50-day moving average is $5.20 and its two-hundred day moving average is $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.

Analysts Set New Price Targets

UWMC has been the subject of several analyst reports. Jefferies Financial Group started coverage on UWM in a report on Friday, December 19th. They issued a “hold” rating and a $5.00 price target for the company. UBS Group lifted their price objective on UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Keefe, Bruyette & Woods increased their target price on UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. The Goldman Sachs Group set a $5.00 price target on UWM in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of UWM from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, UWM currently has an average rating of “Hold” and an average price target of $6.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oak Thistle LLC acquired a new stake in UWM in the third quarter valued at approximately $1,337,000. Hsbc Holdings PLC acquired a new stake in UWM during the 2nd quarter valued at $792,000. AGF Management Ltd. acquired a new stake in UWM during the 2nd quarter valued at $3,072,000. 683 Capital Management LLC purchased a new stake in UWM during the 2nd quarter worth $19,872,000. Finally, Capital Fund Management S.A. lifted its holdings in UWM by 260.9% in the 2nd quarter. Capital Fund Management S.A. now owns 573,583 shares of the company’s stock worth $2,375,000 after buying an additional 414,667 shares in 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.