Short Interest in loanDepot, Inc. (NYSE:LDI) Expands By 28.9%

Key Points

• The short interest in loanDepot, Inc. (NYSE:LDI) increased by 28.9% in July, totaling 6,420,000 shares as of July 31st, representing 8.2% of the company's shares.
• Analysts have mixed opinions on loanDepot's stock, with UBS raising its price target from $1.40 to $1.90 while other analysts have downgraded their ratings.
• Insider Jeff Alexander Walsh and CEO Anthony Li Hsieh sold a combined total of over 740,000 shares of loanDepot's stock in July, indicating significant insider selling activity.

loanDepot, Inc. (NYSE:LDI - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 6,420,000 shares, anincreaseof28.9% from the July 15th total of 4,980,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is presently 4.8 days. Approximately8.2% of the company's shares are sold short. Approximately8.2% of the company's shares are sold short. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is presently 4.8 days.

loanDepot Stock Down 0.3%

Shares of LDI traded down $0.01 during trading hours on Tuesday, hitting $2.03. The company had a trading volume of 1,848,311 shares, compared to its average volume of 2,035,084. The company's fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.44. loanDepot has a one year low of $1.01 and a one year high of $3.22. The company has a market capitalization of $673.11 million, a PE ratio of -6.16 and a beta of 3.35. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71.

Insider Activity at loanDepot

In other loanDepot news, CEO Anthony Li Hsieh sold 1,184,108 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $2.04, for a total transaction of $2,415,580.32. Following the completion of the transaction, the chief executive officer owned 11,598,114 shares in the company, valued at approximately $23,660,152.56. This trade represents a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Alexander Walsh sold 70,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $2.01, for a total transaction of $140,700.00. Following the sale, the insider directly owned 4,140,751 shares of the company's stock, valued at approximately $8,322,909.51. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,477,322 shares of company stock valued at $7,060,343. Company insiders own 83.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC increased its holdings in shares of loanDepot by 39.3% in the fourth quarter. LPL Financial LLC now owns 40,035 shares of the company's stock valued at $82,000 after purchasing an additional 11,286 shares during the period. JPMorgan Chase & Co. lifted its position in shares of loanDepot by 70.5% in the fourth quarter. JPMorgan Chase & Co. now owns 306,221 shares of the company's stock valued at $625,000 after acquiring an additional 126,615 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of loanDepot by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 775,097 shares of the company's stock valued at $1,582,000 after acquiring an additional 54,350 shares in the last quarter. Barclays PLC increased its holdings in shares of loanDepot by 25.1% in the fourth quarter. Barclays PLC now owns 998,259 shares of the company's stock valued at $2,036,000 after purchasing an additional 200,000 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of loanDepot in the fourth quarter valued at approximately $81,000. 39.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LDI. 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 research report on Wednesday, August 20th. BTIG Research began coverage on shares of loanDepot in a research report on Monday, August 18th. They set a "neutral" rating for the company. Finally, Wall Street Zen downgraded shares of loanDepot from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.