loanDepot (NYSE:LDI) CEO Sells $8,041,453.20 in 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 dated Friday, September 5th. The stock was 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 in the company, valued at approximately $12,391,399.68. The trade was a 39.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were 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.
• On Wednesday, August 20th, Anthony Li Hsieh sold 243 shares of loanDepot stock. The shares were sold at an average price of $2.00, for a total transaction of $486.00.

loanDepot Price Performance

LDI traded up $0.94 on Monday, hitting $3.83. 46,940,641 shares of the company's stock were exchanged, compared to its average volume of 1,755,414. loanDepot, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $4.03. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71. The firm has a 50-day moving average price of $1.79 and a 200-day moving average price of $1.47. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -11.62 and a beta of 3.37.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LDI. Wall Street Zen lowered shares of loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. BTIG Research began coverage on loanDepot in a report on Monday, August 18th. They issued a "neutral" rating for the company. Finally, UBS Group increased their price target on loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $2.30.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Continental Advisors LLC purchased a new position in shares of loanDepot in the second quarter valued at $656,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of loanDepot in the 2nd quarter valued at approximately $57,000. Cerity Partners LLC acquired a new position in loanDepot during the 2nd quarter worth $116,000. Invesco Ltd. lifted its holdings in shares of loanDepot by 204.1% in the second quarter. Invesco Ltd. now owns 111,245 shares of the company's stock valued at $141,000 after buying an additional 74,669 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of loanDepot during the second quarter worth $98,000. Hedge funds and other institutional investors own 39.39% of the company's stock.

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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