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 company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $4.66, for a total value of $2,949,192.84. Following the completion of the transaction, the chief executive officer directly owned 2,426,525 shares in the company, valued at $11,307,606.50. The trade was a 20.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 value 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 value 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 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.
• 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 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 stock was sold at an average price of $6.04, for a total transaction of $3,822,558.96.

UWM Stock Up 0.4%

Shares of UWMC stock opened at $4.69 on Friday. UWM Holdings Corporation has a 1 year low of $3.80 and a 1 year high of $7.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.40. The stock has a 50 day simple moving average of $5.14 and a 200 day simple moving average of $5.42.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On UWM

Several hedge funds and other institutional investors have recently made changes to their positions in UWMC. Oak Thistle LLC bought a new position in shares of UWM during the third quarter valued at $1,337,000. Hsbc Holdings PLC acquired a new stake in UWM in the second quarter valued at $792,000. AGF Management Ltd. bought a new position in UWM during the 2nd quarter worth $3,072,000. 683 Capital Management LLC acquired a new position in UWM during the 2nd quarter worth about $19,872,000. Finally, Capital Fund Management S.A. grew its position in shares of UWM by 260.9% in the 2nd quarter. Capital Fund Management S.A. now owns 573,583 shares of the company’s stock valued at $2,375,000 after buying an additional 414,667 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

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.