Inside Billionaire Mat Ishbia's Latest $9 Million UWM Stock Sale

Core Insights - The recent stock sale by Mat Ishbia, CEO of UWM Holdings Corporation, involved 1.6 million shares valued at $9.4 million, reflecting a reduction of approximately 35% in his indirect ownership [1][2][3] Company Overview - UWM Holdings Corporation is a leading wholesale mortgage lender in the U.S., focusing on high-volume, efficient loan processing and government-backed products, with a revenue of $1.4 billion and a net income of $16.9 million [5] - The company has a dividend yield of 6.8% and has seen its stock price decline by 11% over the past year, underperforming the S&P 500's 14% gain [5] Recent Performance - UWM reported strong operating momentum, with third-quarter originations reaching $41.7 billion, revenue climbing to $843 million, and adjusted EBITDA rising to $211 million, marking one of its most profitable periods since 2021 [6] - The company's gain margin expanded to 130 basis points, and liquidity totaled $3 billion at quarter-end, indicating robust financial health [8] Insider Activity - Ishbia's recent sale aligns with a consistent pattern of selling, having previously sold blocks of 1.1–1.2 million shares, indicating portfolio management rather than a significant shift in long-term alignment [4][7] - Despite the sale, Ishbia still indirectly controls 1.3 billion derivative securities, which represent the majority of his economic exposure [7] Market Context - The shares were sold at a weighted average price of $5.74, slightly below the market close of $5.85, and the company's stock has underperformed over the past year [4][6]