loanDepot (NYSE:LDI) Sees Strong Trading Volume - Time to Buy?

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) saw an uptick in trading volume on Monday . 2,133,806 shares were traded during mid-day trading, an increase of 123% from the previous session's volume of 955,350 shares.The stock last traded at $2.03 and had previously closed at $1.88.

Analysts Set New Price Targets

Separately, UBS Group set a $1.40 price target on shares of loanDepot and gave the stock a "neutral" rating in a report on Wednesday, July 16th.

loanDepot Trading Up 3.3%

The company has a 50-day simple moving average of $1.35 and a 200-day simple moving average of $1.42. The company has a debt-to-equity ratio of 6.48, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $640.69 million, a P/E ratio of -4.32 and a beta of 3.33.

loanDepot (NYSE:LDI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). loanDepot had a negative net margin of 7.74% and a negative return on equity of 18.41%. The business had revenue of $273.62 million during the quarter, compared to analysts' expectations of $275.11 million. On average, sell-side analysts forecast that loanDepot, Inc. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On loanDepot

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in shares of loanDepot during the fourth quarter valued at $56,000. American Century Companies Inc. boosted its stake in loanDepot by 12.8% in the 4th quarter. American Century Companies Inc. now owns 120,232 shares of the company's stock valued at $245,000 after purchasing an additional 13,628 shares during the period. LPL Financial LLC raised its position in loanDepot by 39.3% in the fourth quarter. LPL Financial LLC now owns 40,035 shares of the company's stock valued at $82,000 after purchasing an additional 11,286 shares during the last quarter. JPMorgan Chase & Co. grew its stake in loanDepot by 70.5% in the fourth quarter. JPMorgan Chase & Co. now owns 306,221 shares of the company's stock valued at $625,000 after acquiring an additional 126,615 shares during the period. Finally, Cannell & Spears LLC raised its stake in shares of loanDepot by 301.3% in the fourth quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company's stock valued at $2,640,000 after buying an additional 971,700 shares during the period. 39.39% of the stock is 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.

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