loanDepot (NYSE:LDI) Hits New 1-Year High - Here's What Happened

Key Points

• loanDepot, Inc. (NYSE:LDI) shares hit a new 52-week high at $4.87, closing at $4.63 with a trading volume of approximately 6.7 million shares.
• Analysts have varied opinions on loanDepot, with UBS Group raising the target price to $1.90 while Wall Street Zen downgraded the stock from "hold" to "sell."
• Recent insider activity saw significant sales, with CEO Anthony Li Hsieh selling 1.3 million shares, resulting in a 49.06% decrease in his ownership stake.

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $4.87 and last traded at $4.63, with a volume of 6677250 shares changing hands. The stock had previously closed at $4.27.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group raised their target price on loanDepot from $1.40 to $1.90 and gave the company 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. Finally, Wall Street Zen lowered loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $2.30.

loanDepot Stock Performance

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 company has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $1.55. The stock has a market cap of $1.51 billion, a P/E ratio of -13.68 and a beta of 3.37.

Insider Activity

In related news, CAO Darren Graeler sold 100,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $4.30, for a total transaction of $430,000.00. Following the transaction, the chief accounting officer owned 219,871 shares in the company, valued at $945,445.30. The trade was a 31.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Li Hsieh sold 1,300,000 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $4.10, for a total value of $5,330,000.00. Following the transaction, the chief executive officer owned 1,350,000 shares in the company, valued at approximately $5,535,000. This represents a 49.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,120,160 shares of company stock valued at $34,112,201. Insiders own 83.04% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of loanDepot by 11.4% in the 4th quarter. Northern Trust Corp now owns 157,130 shares of the company's stock worth $321,000 after buying an additional 16,033 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of loanDepot by 11.8% in the 4th quarter. Cetera Investment Advisers now owns 103,148 shares of the company's stock worth $210,000 after buying an additional 10,846 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of loanDepot in the 4th quarter worth approximately $301,000. D. E. Shaw & Co. Inc. grew its stake in shares of loanDepot by 184.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 170,441 shares of the company's stock worth $348,000 after buying an additional 110,448 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of loanDepot by 167.1% in the 4th quarter. Millennium Management LLC now owns 650,987 shares of the company's stock worth $1,328,000 after buying an additional 407,299 shares during the last quarter. Hedge funds and other institutional investors own 39.39% of the company's stock.

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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