Insider Buying: Elezaj Alex, UWM Holdings Corporation [UWMC] EVP, Chief Strategy Officer invested 277,778 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. UWM Holdings Corporation shares valued at $1,010,056 were purchased by Elezaj Alex on May 12. At $3.64 per share, Elezaj Alex acquired 277,778 shares. The insider’s holdings grew to 280,658 shares worth approximately $1.04 million following the completion of this transaction.


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Also, Hubacker Andrew sold 355 shares, netting a total of over 1,708 in proceeds. Following the sale of shares at $4.81 each, the insider now holds 833 shares.

Before that, Elezaj Alex had sold 1,575 shares from its account. In a trade valued at $7,557, the EVP, Chief Strategy Officer traded UWM Holdings Corporation shares for $4.80 each. Upon closing the transaction, the insider’s holdings decreased to 1,575 shares, worth approximately $10627.2.

As published in a research note from Credit Suisse on August 10, 2022, UWM Holdings Corporation [UWMC] has been rated down from a Neutral to an Underperform and the price target has been revised to $3.50 from $3.75. This represents a -5.43% premium over Wednesday’s closing price. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early June. As of May 19, 2022, Piper Sandler has decreased its “Neutral” rating to a “an Underweight” for UWMC. Earlier on May 17, 2022, Wedbush downgraded its rating. Their new recommendation was “a Neutral” for UWMC stock which previously was a “an Outperform”.

Analyzing UWMC’s Price Performance

On Wednesday, UWM Holdings Corporation [NYSE: UWMC] rose 1.65% to $3.69. The stock’s lowest price that day was $3.64, but it reached a high of $3.785 in the same session. During the last five days, there has been a drop of approximately -4.40%. Over the course of the year, UWM Holdings Corporation shares have dropped approximately -37.67%. Shares of the company reached a 52-week high of $6.20 on 01/04/22 and a 52-week low of $3.14 on 06/17/22. A 50-day SMA is recorded $3.74, while a 200-day SMA reached $4.37. Nevertheless, trading volume fell to 1.18 million shares from 0.67 million shares the previous day.

Support And Resistance Levels for UWM Holdings Corporation (UWMC)

According to the 24-hour chart, there is a support level at 3.63, which, if violated, would cause prices to drop to 3.56. In the upper region, resistance lies at 3.77. The next price resistance is at 3.85. RSI (Relative Strength Index) is 48.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 51.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is UWM Holdings Corporation subject to short interest?

Stocks of UWM Holdings Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.88 million shares to 19.57 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 20.45 million shares. A decline of -4.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 11.84 of the overall float, the days-to-cover ratio (short ratio) decline to 11.84.

Which companies own the most shares of UWM Holdings Corporation (UWMC)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,408,014 shares, which is about 8.00% of the total UWMC shares outstanding. The investor’s shares have plunged by -822,206 from its previous 13-F filing of 8230220.0 shares. With the completion of the sale transaction, Diameter Capital Partners LP’s stake is now worth $18,052,842. BlackRock Fund Advisors acquire a 1.27% interest valued at $12.23 million while Renaissance Technologies LLC purchased a 472,600 stake. A total of -372,522 shares of UWM Holdings Corporation were bought by SSgA Funds Management, Inc. during the quarter, and 14,074 were bought by Geode Capital Management LLC. In its current portfolio, Oaktree Capital Management LP holds 1,000,000 shares valued at $3.62 million.

Analysts anticipate UWM Holdings Corporation stock to reach $5.00 by 2022, with the lowest price target being $3.00. In spite of this, 12 analysts ranked UWM Holdings Corporation stock as a Hold at the end of 2022.

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