UWM (NYSE:UWMC) CEO Sells $2,949,192.84 in Stock

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $4.66, for a total transaction of $2,949,192.84. Following the transaction, the chief executive officer owned 2,426,525 shares in the company, valued at approximately $11,307,606.50. This trade represents a 20.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Friday, February 6th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.84, for a total transaction of $3,063,110.16.
• On Wednesday, February 4th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was 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 shares were 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 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 stock was 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 shares were sold at an average price of $6.04, for a total transaction of $3,822,558.96.

UWM Stock Up 4.0%

Shares of UWMC stock opened at $4.89 on Friday. The company has a 50 day simple moving average of $5.12 and a two-hundred day simple moving average of $5.44. UWM Holdings Corporation has a 12 month low of $3.80 and a 12 month high of $7.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 2.40.

Institutional Investors Weigh In On UWM

Several institutional investors and hedge funds have recently modified their holdings of UWMC. Dynamic Technology Lab Private Ltd bought a new position in shares of UWM during the first quarter worth $92,000. Focus Partners Wealth purchased a new stake in UWM in the 1st quarter worth $55,000. KLP Kapitalforvaltning AS lifted its stake in UWM by 63.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,200 shares of the company’s stock worth $140,000 after purchasing an additional 12,900 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of UWM by 39.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,060 shares of the company’s stock valued at $79,000 after purchasing an additional 5,348 shares during the last quarter. Finally, Easterly Investment Partners LLC grew its position in shares of UWM by 45.5% during the second quarter. Easterly Investment Partners LLC now owns 242,225 shares of the company’s stock valued at $1,003,000 after purchasing an additional 75,715 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

UWM Company Profile

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.