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

UWM Holdings Corporation (NYSE:UWMC) CEO Ishbia Mat sold 632,874 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $4.52, for a total transaction of $2,860,590.48. Following the completion of the transaction, the chief executive officer directly owned 4,596,407 shares in the company, valued at approximately $20,775,759.64. The trade was a 12.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, February 19th, Ishbia Mat sold 632,874 shares of UWM stock. The shares were sold at an average price of $4.77, for a total transaction of $3,018,808.98.
• On Tuesday, February 17th, Ishbia Mat sold 632,874 shares of UWM stock. The stock was sold at an average price of $4.88, for a total value 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 shares were 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 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 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 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 stock was 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 Down 2.3%

Shares of UWMC traded down $0.11 during trading hours on Monday, reaching $4.52. The stock had a trading volume of 11,027,439 shares, compared to its average volume of 18,401,078. UWM Holdings Corporation has a 52 week low of $3.80 and a 52 week high of $7.14. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50-day moving average of $5.05 and a 200 day moving average of $5.47.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UWMC. Morgan Stanley set a $6.00 price objective on UWM in a research report on Tuesday, December 16th. UBS Group upped their price target on shares of UWM from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Jefferies Financial Group started coverage on shares of UWM in a report on Friday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. Keefe, Bruyette & Woods upped their target price on shares of UWM from $6.50 to $6.75 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group set a $5.00 price target on UWM in a research note on Tuesday, January 6th. Two 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’s stock. Based on data from MarketBeat, UWM presently has an average rating of “Hold” and a consensus price target of $6.53.

Institutional Investors Weigh In On UWM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its position in UWM by 5,681.9% during the 3rd quarter. Allworth Financial LP now owns 4,163 shares of the company’s stock worth $25,000 after buying an additional 4,091 shares in the last quarter. GAMMA Investing LLC increased its position in shares of UWM by 408.7% in the third quarter. GAMMA Investing LLC now owns 5,407 shares of the company’s stock valued at $33,000 after acquiring an additional 4,344 shares during the last quarter. Advisory Services Network LLC bought a new stake in UWM during the third quarter worth about $38,000. Raymond James Financial Inc. acquired a new position in UWM during the second quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC boosted its position in UWM by 1,410.7% during the fourth quarter. Farther Finance Advisors LLC now owns 8,596 shares of the company’s stock valued at $38,000 after purchasing an additional 8,027 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

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.