Billionaire Mat Ishbia Sells $6.9 Million in UWM Stock After Company's Strongest Quarter Since 2021

Core Insights - Mat Ishbia, president and CEO of UWM Holdings Corporation, sold nearly 1.2 million shares in open-market transactions, totaling approximately $6.9 million [1][8] - The sale aligns with Ishbia's historical selling pattern, reflecting a consistent execution cadence [3] - Following the sale, Ishbia's indirect equity stake decreased to 1.8 million shares, while he retains 279,989 shares directly [4][6] Transaction Details - Total shares sold: 1,192,712 [2] - Transaction value: ~$6.9 million [2] - Post-transaction shares: 1,818,036 (indirect), 279,989 (direct) [2] - Shares sold at a weighted average price of $5.76, near prevailing market levels [5] Company Overview - UWM Holdings Corporation is a leading wholesale mortgage lender in the U.S., focusing on residential mortgage loan origination [7] - Revenue (TTM): $1.3 billion, Net income (TTM): $11.9 million, Dividend yield: 7%, 1-year price change: -13% [7] Market Context - The timing of the sale is notable as UWM reported its strongest quarter since 2021, with net income of $314.5 million and loan originations up 18% year over year to $39.7 billion [9] - Despite the insider selling, UWM remains the largest wholesale mortgage lender in the nation, indicating potential stability in operations [10]