Charles Schwab Investment Management Inc. raised its position in loanDepot, Inc. (NYSE:LDI - Free Report) by 1,671.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 655,137 shares of the company's stock after purchasing an additional 618,153 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.20% of loanDepot worth $780,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of LDI. Tidal Investments LLC acquired a new stake in shares of loanDepot in the 4th quarter valued at about $1,691,000. Millennium Management LLC raised its stake in shares of loanDepot by 167.1% in the 4th quarter. Millennium Management LLC now owns 650,987 shares of the company's stock valued at $1,328,000 after purchasing an additional 407,299 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of loanDepot in the fourth quarter valued at about $348,000. Dimensional Fund Advisors LP increased its position in shares of loanDepot by 83.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 344,705 shares of the company's stock valued at $703,000 after acquiring an additional 157,274 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of loanDepot in the fourth quarter valued at about $301,000. Institutional investors and hedge funds own 39.39% of the company's stock.
Insider Buying and Selling
In related news, CEO Anthony Li Hsieh sold 1,184,108 shares of loanDepot stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $2.04, for a total transaction of $2,415,580.32. Following the completion of the transaction, the chief executive officer owned 11,598,114 shares in the company, valued at approximately $23,660,152.56. This trade represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 5,519,989 shares of company stock worth $11,258,998 in the last three months. Company insiders own 78.05% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on LDI shares. UBS Group lifted their target price on loanDepot from $1.40 to $1.90 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. BTIG Research started coverage on loanDepot in a research report on Monday, August 18th. They issued a "neutral" rating on the stock. Finally, Wall Street Zen downgraded loanDepot from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, loanDepot has a consensus rating of "Reduce" and a consensus price target of $2.30.
Check Out Our Latest Research Report on loanDepot
loanDepot Stock Performance
loanDepot stock traded up $0.64 during midday trading on Friday, reaching $2.92. 33,035,738 shares of the company's stock were exchanged, compared to its average volume of 2,438,689. loanDepot, Inc. has a 52 week low of $1.01 and a 52 week high of $3.22. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $964.66 million, a price-to-earnings ratio of -8.83 and a beta of 3.38. The stock's 50-day simple moving average is $1.79 and its 200 day simple moving average is $1.48.
About loanDepot
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Free Report)
loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.
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