Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. UWM Holdings Corporation shares valued at $10,140,000 were sold by Mat Ishbia on Sep 16 ’24. At $8.45 per share, Mat Ishbia sold 1,200,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Mat Ishbia sold 10,842,012 shares, netting a total of over 91,615,001 in proceeds. Following the sale of shares at $8.45 each, the insider now holds 0 shares.
Before that, Mat Ishbia had sold 5,000,000 shares from its account. In a trade valued at $45,550,000, the President and CEO traded UWM Holdings Corporation shares for $9.11 each. Upon closing the transaction, the insider’s holdings decreased to 5,000,000 shares, worth approximately $0.0.
As published in a research note from Barclays on October 08, 2024, UWM Holdings Corporation [UWMC] has been rated up from an Underweight to an Equal weight and the price target has been revised to $8 from $6. Analysts at Keefe Bruyette upgraded the stock from ‘”an Underperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early April. As of January 10, 2024, Deutsche Bank has initiated its “Hold” rating for UWMC. Earlier on January 10, 2024, Keefe Bruyette downgraded its rating. Their new recommendation was “an Underperform” for UWMC stock which previously was a “a Mkt perform”.
Analyzing UWMC Stock Performance
During the last five days, there has been a surge of approximately 0.30%. Over the course of the year, UWM Holdings Corporation shares have dropped approximately -7.55%. Shares of the company reached a 52-week high of $9.74 on 08/23/24 and a 52-week low of $5.82 on 02/28/24. A 50-day SMA is recorded $8.18, while a 200-day SMA reached $7.38. Nevertheless, trading volume fell to 3.89 million shares from 2.92 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 6.51, which, if violated, would cause prices to drop to 6.41. In the upper region, resistance lies at 6.72. The next price resistance is at 6.82. RSI (Relative Strength Index) is 25.24 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.38, which suggests the price will decrease in the coming days. Percent R is at 77.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
