Philosophy Capital Management LLC Grows Position in loanDepot, Inc. $LDI

Key Points

• Philosophy Capital Management LLC increased its stake in loanDepot, Inc. by 73.3%, acquiring an additional 1,751,245 shares, bringing its total ownership to approximately 4.14 million shares valued at $4.93 million.
• Several large institutional investors, including Millennium Management and Charles Schwab, significantly expanded their positions in loanDepot during the recent quarters, indicating growing interest in the stock.
• loanDepot's current market cap is around $964.66 million, with shares trading at approximately $2.92, and analysts have issued mixed ratings, showing a consensus rating of "Reduce" with an average target price of $2.30.

Philosophy Capital Management LLC boosted its stake in loanDepot, Inc. (NYSE:LDI - Free Report) by 73.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,141,164 shares of the company's stock after buying an additional 1,751,245 shares during the quarter. Philosophy Capital Management LLC owned approximately 1.26% of loanDepot worth $4,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Global Management LLC purchased a new stake in loanDepot in the 4th quarter valued at $33,000. Invesco Ltd. purchased a new stake in loanDepot in the 1st quarter valued at $44,000. Capstone Financial Advisors Inc. raised its position in loanDepot by 60.0% in the 1st quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company's stock valued at $48,000 after buying an additional 15,000 shares during the last quarter. Squarepoint Ops LLC raised its position in loanDepot by 169.5% in the 4th quarter. Squarepoint Ops LLC now owns 37,764 shares of the company's stock valued at $77,000 after buying an additional 23,752 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in loanDepot by 157.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 45,000 shares of the company's stock valued at $92,000 after buying an additional 27,500 shares during the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other loanDepot news, CEO Anthony Li Hsieh sold 3,046,005 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $2.64, for a total value of $8,041,453.20. Following the completion of the transaction, the chief executive officer owned 4,693,712 shares in the company, valued at $12,391,399.68. This trade represents a 39.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 9,676,448 shares of company stock valued at $21,710,137. 78.05% of the stock is owned by company insiders.

loanDepot Stock Performance

Shares of LDI stock traded up $0.79 on Thursday, hitting $4.30. 25,334,559 shares of the stock were exchanged, compared to its average volume of 2,110,469. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71. The firm has a market capitalization of $1.42 billion, a PE ratio of -12.86 and a beta of 3.38. loanDepot, Inc. has a one year low of $1.01 and a one year high of $4.27. The firm's 50 day moving average is $1.92 and its two-hundred day moving average is $1.51.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group upped their price objective on loanDepot from $1.40 to $1.90 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, BTIG Research restated a "neutral" rating on shares of loanDepot in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target 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.