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 company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $3.25, for a total transaction of $6,642,064.00. Following the transaction, the chief executive officer owned 2,650,000 shares of the company's stock, valued at approximately $8,612,500. This trade represents a 43.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 5th, Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.
• On Monday, August 25th, Anthony Li Hsieh sold 1,017,198 shares of loanDepot stock. The stock was sold at an average price of $2.04, for a total transaction of $2,075,083.92.
• On Friday, August 22nd, Anthony Li Hsieh sold 1,184,108 shares of loanDepot stock. The stock was sold at an average price of $2.04, for a total transaction of $2,415,580.32.

loanDepot Price Performance

LDI traded up $0.73 during trading on Thursday, reaching $4.24. The company's stock had a trading volume of 33,311,223 shares, compared to its average volume of 2,163,043. 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 firm has a fifty day simple moving average of $1.92 and a two-hundred day simple moving average of $1.51. loanDepot, Inc. has a 1 year low of $1.01 and a 1 year high of $4.40. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -12.85 and a beta of 3.38.

Hedge Funds Weigh In On loanDepot

Several institutional investors and hedge funds have recently bought and sold shares of LDI. Philosophy Capital Management LLC raised its stake in shares of loanDepot by 73.3% in the 1st 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. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of loanDepot in the 1st quarter valued at approximately $1,469,000. Geode Capital Management LLC raised its stake in shares of loanDepot by 134.4% in the 2nd 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. Tidal Investments LLC purchased a new stake in loanDepot during the 4th quarter worth approximately $1,691,000. Finally, Charles Schwab Investment Management Inc. increased its stake in loanDepot by 1,671.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company's stock worth $780,000 after buying an additional 618,153 shares during the period. 39.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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