Insider Selling: loanDepot (NYSE:LDI) CAO Sells 100,000 Shares of Stock

Key Points

• Darren Graeler, the Chief Accounting Officer of loanDepot, sold 100,000 shares of stock on September 11th for a total value of $430,000, reducing his position by 31.26%.
• loanDepot's shares have a current trading volume of 22,130,346, significantly higher than its average of 2,278,597, indicating high market activity.
• Research analysts have mixed ratings on loanDepot, with a consensus rating of "Reduce" and a price target set at $2.30.

loanDepot, Inc. (NYSE:LDI - Get Free Report) CAO Darren Graeler sold 100,000 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $4.30, for a total value of $430,000.00. Following the transaction, the chief accounting officer directly owned 219,871 shares of the company's stock, valued at $945,445.30. This represents a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

loanDepot Stock Performance

Shares of LDI traded up $0.11 during mid-day trading on Wednesday, reaching $4.55. The company's stock had a trading volume of 41,329,300 shares, compared to its average volume of 12,919,816. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71. loanDepot, Inc. has a 1-year low of $1.01 and a 1-year high of $5.05. The business has a 50-day simple moving average of $2.23 and a two-hundred day simple moving average of $1.61. The stock has a market cap of $1.51 billion, a P/E ratio of -13.79 and a beta of 3.38.

Institutional Investors Weigh In On loanDepot

Institutional investors have recently bought and sold shares of the stock. Alpine Global Management LLC purchased a new position in loanDepot during the 4th quarter worth $33,000. Wilshire Advisors LLC boosted its holdings in loanDepot by 39.8% during the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock worth $33,000 after purchasing an additional 7,899 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in loanDepot in the 2nd quarter worth about $46,000. Invesco Ltd. purchased a new stake in loanDepot in the 1st quarter valued at about $44,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of loanDepot by 130.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company's stock worth $47,000 after buying an additional 21,091 shares in the last quarter. Institutional investors own 39.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on LDI. UBS Group upped their price objective on shares of loanDepot from $1.40 to $1.90 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Wall Street Zen downgraded shares of 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 report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $2.30.

loanDepot Company 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.