loanDepot, Inc. (NYSE:LDI) Short Interest Up 54.4% in September

Key Points

• loanDepot, Inc. (NYSE: LDI) experienced a 54.4% increase in short interest in September, reaching a total of 12,860,000 shares.
• Insiders sold a total of 14,470,160 shares worth approximately $40 million in the last quarter, with significant sales from the company's CAO and CEO.
• Wall Street analysts hold a consensus rating of "Reduce" for loanDepot stock, with target prices ranging from $1.40 to $2.30.

loanDepot, Inc. (NYSE:LDI - Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 12,860,000 shares, a growth of 54.4% from the August 31st total of 8,330,000 shares. Based on an average daily volume of 7,090,000 shares, the short-interest ratio is currently 1.8 days. Currently, 14.3% of the company's shares are sold short. Currently, 14.3% of the company's shares are sold short. Based on an average daily volume of 7,090,000 shares, the short-interest ratio is currently 1.8 days.

Insider Transactions at loanDepot

In other news, CAO Darren Graeler sold 100,000 shares of the firm'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 completion of the sale, the chief accounting officer directly owned 219,871 shares in the company, valued at $945,445.30. This trade represents a 31.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony Li Hsieh sold 1,350,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $4.61, for a total value of $6,223,500.00. The disclosure for this sale can be found here. Insiders sold a total of 14,470,160 shares of company stock valued at $40,335,701 in the last quarter. 78.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wilshire Advisors LLC boosted its holdings in shares of loanDepot by 39.8% in the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock worth $33,000 after acquiring an additional 7,899 shares during the period. Invesco Ltd. bought a new stake in shares of loanDepot during the first quarter valued at about $44,000. Los Angeles Capital Management LLC bought a new stake in shares of loanDepot during the second quarter valued at about $46,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of loanDepot by 130.3% in the second 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. Finally, Capstone Financial Advisors Inc. boosted its position in shares of loanDepot by 60.0% in the first quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company's stock valued at $48,000 after acquiring an additional 15,000 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LDI shares. UBS Group increased their target price on loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. BTIG Research reiterated a "neutral" rating on shares of loanDepot in a report on Wednesday, September 10th. Wall Street Zen lowered shares of loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of loanDepot in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $2.30.

loanDepot Stock Performance

Shares of LDI traded down $0.02 during mid-day trading on Tuesday, hitting $2.91. The stock had a trading volume of 6,336,468 shares, compared to its average volume of 3,277,835. loanDepot has a 52 week low of $1.01 and a 52 week high of $5.05. The company has a debt-to-equity ratio of 6.71, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $2.63 and a 200-day moving average price of $1.77. The firm has a market cap of $961.34 million, a P/E ratio of -8.80 and a beta of 3.45.

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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