Anthony Li Hsieh Sells 3,046,005 Shares of loanDepot (NYSE:LDI) Stock

Key Points

• loanDepot CEO Anthony Li Hsieh sold a significant amount of stock, totaling over $8 million, which resulted in a 39.36% decrease in his ownership of the company.
• The company's stock traded at $3.83, up from its fifty-two week low of $1.01, while analysts have given the stock an average rating of "Reduce" with a price target of $2.30.
• Large institutional investors have shown interest, with several acquiring new positions in loanDepot during the second quarter, indicating a potentially bullish sentiment despite the recent sell-off by insiders.

loanDepot, Inc. (NYSE:LDI - Get Free Report) CEO Anthony Li Hsieh sold 3,046,005 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $2.64, for a total transaction of $8,041,453.20. Following the completion of the transaction, the chief executive officer owned 4,693,712 shares of the company's stock, valued at $12,391,399.68. This trade represents a 39.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 Tuesday, September 9th, Anthony Li Hsieh sold 2,043,712 shares of loanDepot stock. The shares were sold at an average price of $3.25, for a total transaction of $6,642,064.00.
• 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.

loanDepot Stock Performance

Shares of NYSE:LDI traded up $0.04 on Friday, reaching $4.28. 22,187,121 shares of the company's stock were exchanged, compared to its average volume of 9,735,090. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -12.95 and a beta of 3.38. loanDepot, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $4.51. The business's 50-day moving average is $2.04 and its two-hundred day moving average is $1.55. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71.

Wall Street Analysts Forecast Growth

LDI has been the topic of a number of analyst reports. UBS Group increased 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. BTIG Research reaffirmed a "neutral" rating on shares of loanDepot in a report on Wednesday. Finally, Wall Street Zen cut shares of loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $2.30.

Institutional Investors Weigh In On loanDepot

A number of hedge funds have recently bought and sold shares of LDI. Continental Advisors LLC acquired a new stake in shares of loanDepot in the second quarter worth $656,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of loanDepot in the 2nd quarter valued at about $57,000. Cerity Partners LLC bought a new stake in loanDepot during the 2nd quarter worth approximately $116,000. Invesco Ltd. grew its stake in shares of loanDepot by 204.1% during the 2nd quarter. Invesco Ltd. now owns 111,245 shares of the company's stock worth $141,000 after acquiring an additional 74,669 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of loanDepot during the 2nd quarter worth approximately $98,000. 39.39% of the stock is currently owned by institutional investors.

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.