loanDepot (NYSE:LDI) Sees Strong Trading Volume - Still a Buy?

Key Points

• loanDepot shares experienced a significant trading volume surge, with approximately 2.77 million shares traded, a 39% increase compared to the previous session.
• Recent analyst ratings reflect mixed sentiments, with UBS raising the price target to $1.90 while Wall Street Zen downgraded the stock from "hold" to "sell," resulting in a consensus rating of "Reduce."
• CEO Anthony Li Hsieh sold over 3 million shares at an average price of $2.64, decreasing his ownership stake by nearly 39% in the company.

loanDepot, Inc. (NYSE:LDI - Get Free Report) saw strong trading volume on Thursday . 2,768,451 shares changed hands during mid-day trading, an increase of 39% from the previous session's volume of 1,987,908 shares.The stock last traded at $3.82 and had previously closed at $3.51.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen lowered loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. UBS Group upped their price objective 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, September 10th. Two research 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.com, the stock currently has an average rating of "Reduce" and an average price target of $2.30.

loanDepot Price Performance

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 market cap of $1.46 billion, a PE ratio of -13.39 and a beta of 3.38. The stock has a 50 day simple moving average of $2.11 and a 200-day simple moving average of $1.57.

Insider Activity at loanDepot

In other loanDepot news, CEO Anthony Li Hsieh sold 3,046,005 shares of the stock in a transaction dated Friday, September 5th. The shares were 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 of the company's stock, valued at $12,391,399.68. This represents a 39.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 13,120,160 shares of company stock worth $34,112,201. 78.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LDI. Northern Trust Corp boosted its holdings in shares of loanDepot by 11.4% during the 4th quarter. Northern Trust Corp now owns 157,130 shares of the company's stock valued at $321,000 after purchasing an additional 16,033 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of loanDepot by 11.8% in the 4th quarter. Cetera Investment Advisers now owns 103,148 shares of the company's stock valued at $210,000 after acquiring an additional 10,846 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings 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 valued at $348,000 after acquiring an additional 110,448 shares during the last quarter. Millennium Management LLC lifted 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 valued at $1,328,000 after acquiring an additional 407,299 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of loanDepot in the 4th quarter valued at about $348,000. 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.