loanDepot (NYSE:LDI) Reaches New 1-Year High - Time to Buy?

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.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on LDI shares. BTIG Research reaffirmed a "neutral" rating on shares of loanDepot in a report on Wednesday, September 10th. UBS Group lifted their target price on shares of loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $2.30.

loanDepot Stock Down 9.9%

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71. The stock has a market capitalization of $1.23 billion, a P/E ratio of -11.23 and a beta of 3.38. The firm has a 50 day simple moving average of $2.28 and a two-hundred day simple moving average of $1.63.

Insider Buying and Selling

In other news, CEO Anthony Li Hsieh sold 3,046,005 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $2.64, for a total value of $8,041,453.20. Following the completion of the transaction, the chief executive officer directly owned 4,693,712 shares in the company, valued at approximately $12,391,399.68. This represents a 39.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 14,470,160 shares of company stock valued at $40,335,701. 78.05% of the stock is owned by corporate insiders.

Institutional Trading of loanDepot

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of loanDepot by 1,671.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company's stock worth $780,000 after buying an additional 618,153 shares during the period. Millennium Management LLC raised its holdings 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 acquiring an additional 407,299 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of loanDepot in the 1st quarter worth about $1,469,000. Philosophy Capital Management LLC grew its position in loanDepot by 73.3% in the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company's stock worth $4,928,000 after purchasing an additional 1,751,245 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in loanDepot in the 4th quarter worth about $1,691,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

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.