loanDepot (NYSE:LDI) Reaches New 12-Month High - Here's What Happened

Key Points

• loanDepot's stock reached a new 52-week high of $3.59, reflecting significant trading volume of over 4 million shares.
• Analysts have mixed views on loanDepot, with UBS raising its price target to $1.90 and a consensus rating of "Reduce" among various analysts.
• Insider trading activity includes CEO Anthony Li Hsieh selling over 211,000 shares, and in total, insiders sold approximately 5.5 million shares in the past three months.

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $3.55 and last traded at $3.59, with a volume of 4071548 shares trading hands. The stock had previously closed at $2.89.

Analyst Ratings Changes

Several research firms have recently commented on LDI. Wall Street Zen cut loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. UBS Group upped their price target on loanDepot from $1.40 to $1.90 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, BTIG Research restated a "neutral" rating on shares of loanDepot in a research note on Wednesday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $2.30.

loanDepot Price Performance

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 $1.41 billion, a PE ratio of -12.95 and a beta of 3.38. The company has a debt-to-equity ratio of 6.71, a current ratio of 1.18 and a quick ratio of 1.18.

Insider Transactions at loanDepot

In other loanDepot 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 owned 4,693,712 shares in the company, valued at approximately $12,391,399.68. This represents a 39.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 13,120,160 shares of company stock valued at $34,112,201 in the last three months. Corporate insiders own 78.05% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LDI. Philosophy Capital Management LLC raised its position in loanDepot by 73.3% in the first quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company's stock worth $4,928,000 after acquiring an additional 1,751,245 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in loanDepot in the first quarter worth $1,469,000. Geode Capital Management LLC raised its position in loanDepot by 134.4% in the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company's stock worth $2,446,000 after acquiring an additional 1,104,021 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of loanDepot in the fourth quarter valued at $1,691,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of loanDepot by 1,671.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company's stock valued at $780,000 after buying an additional 618,153 shares in 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.