loanDepot, Inc. (NYSE:LDI) Short Interest Up 28.9% in July

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 target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 6,420,000 shares, agrowthof28.9% from the July 15th total of 4,980,000 shares. Currently,8.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 4.8 days. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 4.8 days. Currently,8.2% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts recently weighed in on LDI shares. Wall Street Zen cut shares of loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. BTIG Research started coverage on shares of loanDepot in a research note on Monday. They issued a "neutral" rating on the stock. Finally, UBS Group upped their price objective on shares of loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $2.30.

Insider Transactions at loanDepot

In other news, insider Jeff Alexander Walsh sold 70,000 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $2.01, for a total transaction of $140,700.00. Following the completion of the transaction, the insider owned 4,140,751 shares of the company's stock, valued at approximately $8,322,909.51. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Li Hsieh sold 672,865 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $2.02, for a total transaction of $1,359,187.30. Following the transaction, the chief executive officer directly owned 9,461,694 shares of the company's stock, valued at $19,112,621.88. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,275,773 shares of company stock valued at $2,569,193 in the last ninety days. 78.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On loanDepot

A number of large investors have recently modified their holdings of the stock. Philosophy Capital Management LLC lifted its holdings in 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 buying an additional 1,751,245 shares during the period. Knightsbridge Asset Management LLC lifted its holdings in 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 buying an additional 17,763 shares during the period. Geode Capital Management LLC lifted its holdings in 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 buying an additional 1,104,021 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in loanDepot in the first quarter valued at approximately $1,469,000. Finally, Wolverine Asset Management LLC lifted its holdings in 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 buying an additional 158,739 shares during the period. 39.39% of the stock is currently owned by institutional investors and hedge funds.

loanDepot Price Performance

Shares of LDI stock opened at $1.9150 on Thursday. loanDepot has a 1 year low of $1.01 and a 1 year high of $3.2250. The firm's 50 day moving average is $1.61 and its 200-day moving average is $1.44. The firm has a market capitalization of $633.73 million, a price-to-earnings ratio of -5.80 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.

About loanDepot

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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