Insider Selling: loanDepot (NYSE:LDI) CEO Sells 2,043,712 Shares of Stock

Key Points

• Anthony Li Hsieh, CEO of loanDepot, sold 2,043,712 shares at an average price of $3.25 on September 9, significantly reducing his ownership by 43.54%.
• In addition to the recent sale, Hsieh made multiple transactions in September, including the sale of 3,046,005 shares for approximately $8 million on September 5.
• LoanDepot's stock is currently trading at around $4.24, displaying volatility with a market cap of $1.40 billion and a price-to-earnings ratio of -12.85.

loanDepot, Inc. (NYSE:LDI - Get Free Report) CEO Anthony Li Hsieh sold 2,043,712 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $3.25, for a total transaction of $6,642,064.00. Following the completion of the sale, the chief executive officer owned 2,650,000 shares of the company's stock, valued at approximately $8,612,500. This represents a 43.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Anthony Li Hsieh also recently made the following trade(s):

• On Monday, September 15th, Anthony Li Hsieh sold 1,350,000 shares of loanDepot stock. The shares were sold at an average price of $4.61, for a total transaction of $6,223,500.00.
• On Friday, September 12th, Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock. The shares were sold at an average price of $4.10, for a total transaction of $5,330,000.00.
• On Friday, September 5th, Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock. The shares were sold at an average price of $2.64, for a total transaction of $8,041,453.20.
• On Thursday, September 4th, Anthony Li Hsieh sold 1,110,454 shares of loanDepot stock. The shares were sold at an average price of $2.17, for a total transaction of $2,409,685.18.
• On Friday, August 29th, Anthony Li Hsieh sold 211,079 shares of loanDepot stock. The shares were sold at an average price of $2.10, for a total transaction of $443,265.90.
• On Friday, August 29th, Anthony Li Hsieh sold 211,079 shares of loanDepot stock. The shares were sold at an average price of $2.10, for a total transaction of $443,265.90.
• On Thursday, August 28th, Anthony Li Hsieh sold 250,000 shares of loanDepot stock. The shares were sold at an average price of $2.03, for a total transaction of $507,500.00.
• On Thursday, August 28th, Anthony Li Hsieh sold 250,000 shares of loanDepot stock. The shares were sold at an average price of $2.03, for a total transaction of $507,500.00.
• On Wednesday, August 27th, Anthony Li Hsieh sold 807,385 shares of loanDepot stock. The shares were sold at an average price of $2.06, for a total transaction of $1,663,213.10.
• On Tuesday, August 26th, Anthony Li Hsieh sold 173,124 shares of loanDepot stock. The stock was sold at an average price of $2.02, for a total transaction of $349,710.48.

loanDepot Stock Performance

NYSE LDI traded down $0.10 during trading hours on Tuesday, reaching $4.42. 17,234,985 shares of the company were exchanged, compared to its average volume of 12,101,641. loanDepot, Inc. has a 1 year low of $1.01 and a 1 year high of $4.87. The business's 50 day simple moving average is $2.17 and its 200-day simple moving average is $1.59. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71. The stock has a market capitalization of $1.46 billion, a P/E ratio of -13.39 and a beta of 3.38.

Hedge Funds Weigh In On loanDepot

A number of large investors have recently modified their holdings of the company. Philosophy Capital Management LLC boosted its position 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 during the period. Knightsbridge Asset Management LLC boosted its position in shares of loanDepot by 0.6% in the first quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company's stock valued at $3,696,000 after acquiring an additional 17,763 shares during the period. Geode Capital Management LLC boosted its position in shares of loanDepot by 134.4% in the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company's stock valued at $2,446,000 after acquiring an additional 1,104,021 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of loanDepot in the first quarter valued at approximately $1,469,000. Finally, Wolverine Asset Management LLC boosted its position in shares of loanDepot by 15.6% in the second quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company's stock valued at $1,497,000 after acquiring an additional 158,739 shares during the period. 39.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LDI. BTIG Research restated a "neutral" rating on shares of loanDepot in a report on Wednesday, September 10th. UBS Group raised their price objective on shares of loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price 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.