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Mat Ishbia, CEO of UWM Holdings Corp (NYSE:UWMC), and SFS Holding Corp, a ten percent owner, sold a combined total of 800,072 shares of Class A Common Stock on July 25 and July 28, according to a recent SEC filing. The sales, executed under a prearranged 10b5-1 trading plan, generated $3.39 million. The $6.81 billion mortgage company, which offers a notable 9.39% dividend yield, has seen its stock decline nearly 30% over the past six months according to InvestingPro data.
The shares were sold in two tranches. On July 25, 400,036 shares were sold at a weighted average price of $4.23, with prices ranging from $4.15 to $4.36. On July 28, another 400,036 shares were sold at a weighted average price of $4.24, with prices ranging from $4.20 to $4.27. With a beta of 1.72, UWMC shows significantly higher volatility than the broader market. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with 8 additional key insights available to subscribers.
Following these transactions, SFS Holding Corp. indirectly held 1,698,992 shares. Mat Ishbia directly held 279,989 shares.
The filing also noted that Ishbia directly holds 180,737 Restricted Stock Units which convert to Class A Common Stock on a one-for-one basis and vest on March 1, 2026.
In other recent news, UWM Holdings reported first-quarter earnings that did not meet analyst expectations. The company posted a net loss of $247 million, or -$0.12 per share, which was below the consensus estimate of $0.05 per share. However, the revenue for the quarter was $613.37 million, exceeding expectations of $545.77 million and marking a 4.8% year-over-year increase from $585.5 million. Additionally, Barclays (LON:BARC) upgraded UWM Holdings’ stock rating from Equalweight to Overweight, maintaining a price target of $6.00. Barclays cited growth in the broker channel as a key factor for the upgrade. The firm noted that UWM Holdings shares are trading at a discount compared to historical averages. These developments are part of the recent changes affecting the company.
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