Philadelphia Financial Management of San Francisco LLC Buys Shares of 1,234,576 loanDepot, Inc. $LDI

Key Points

• Philadelphia Financial Management of San Francisco LLC acquired 1,234,576 shares of loanDepot, valued at approximately $1,469,000, representing 0.38% of the company.
• CEO Anthony Li Hsieh sold 1,184,108 shares of loanDepot at an average price of $2.04, resulting in a 9.26% decrease in his position, while insiders have sold over 5.5 million shares recently.
• loanDepot's stock received mixed ratings from analysts, with UBS Group setting a target price increase to $1.90, while others downgraded the stock to a "sell" rating.

Philadelphia Financial Management of San Francisco LLC bought a new position in loanDepot, Inc. (NYSE:LDI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,234,576 shares of the company's stock, valued at approximately $1,469,000. Philadelphia Financial Management of San Francisco LLC owned about 0.38% of loanDepot at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LDI. Philosophy Capital Management LLC grew its holdings in shares of loanDepot by 73.3% in the first quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company's stock valued at $4,928,000 after acquiring an additional 1,751,245 shares in the last quarter. Tidal Investments LLC purchased a new stake in loanDepot in the 4th quarter worth about $1,691,000. Charles Schwab Investment Management Inc. increased its holdings in loanDepot by 1,671.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company's stock worth $780,000 after acquiring an additional 618,153 shares during the last quarter. Millennium Management LLC increased its holdings in loanDepot by 167.1% in the 4th quarter. Millennium Management LLC now owns 650,987 shares of the company's stock worth $1,328,000 after acquiring an additional 407,299 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in loanDepot by 83.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 344,705 shares of the company's stock valued at $703,000 after buying an additional 157,274 shares in the last quarter. Institutional investors own 39.39% of the company's stock.

Insiders Place Their Bets

In other news, insider Jeff Alexander Walsh sold 70,000 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $2.03, for a total transaction of $142,100.00. Following the transaction, the insider directly owned 4,001,502 shares of the company's stock, valued at $8,123,049.06. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony Li Hsieh sold 3,046,005 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $2.64, for a total value of $8,041,453.20. Following the transaction, the chief executive officer directly owned 4,693,712 shares in the company, valued at approximately $12,391,399.68. The trade was a 39.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,676,448 shares of company stock worth $21,710,137. Insiders own 78.05% of the company's stock.

loanDepot Stock Up 22.6%

Shares of NYSE LDI traded up $0.79 during trading on Thursday, reaching $4.30. The company had a trading volume of 25,334,559 shares, compared to its average volume of 2,110,469. loanDepot, Inc. has a 12-month low of $1.01 and a 12-month high of $4.27. The stock has a market cap of $1.42 billion, a PE ratio of -12.86 and a beta of 3.38. The business's 50-day moving average is $1.92 and its 200 day moving average is $1.51. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71.

Analyst Ratings Changes

A number of research analysts have weighed in on LDI shares. Wall Street Zen lowered loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. UBS Group boosted their target price on loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, BTIG Research restated a "neutral" rating on shares of loanDepot in a research report on Wednesday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $2.30.

loanDepot Profile

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.