loanDepot (NYSE:LDI) Sees Large Volume Increase - What's Next?

Key Points

• loanDepot experienced a significant increase in trading volume, with 7,800,775 shares traded, marking a 184% rise from the previous session.
• Analysts maintain a mixed outlook on loanDepot, with a consensus price target of $2.30, including ratings of "neutral," "hold," and "sell" from various firms.
• CEO Anthony Li Hsieh sold over 3 million shares recently, reducing his ownership by 39.36%, amid a backdrop of significant insider sales totaling nearly 14.5 million shares in the last 90 days.

loanDepot, Inc. (NYSE:LDI - Get Free Report) saw strong trading volume on Thursday . 7,800,775 shares were traded during mid-day trading, an increase of 184% from the previous session's volume of 2,749,032 shares.The stock last traded at $4.18 and had previously closed at $4.56.

Wall Street Analyst Weigh In

LDI has been the subject of several recent research reports. 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 research note on Wednesday, August 20th. BTIG Research reissued a "neutral" rating on shares of loanDepot in a research report on Wednesday, September 10th. Finally, Wall Street Zen lowered shares of loanDepot from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, loanDepot presently has an average rating of "Reduce" and a consensus price target of $2.30.

loanDepot Trading Down 6.3%

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 company has a market capitalization of $1.15 billion, a P/E ratio of -10.56 and a beta of 3.38. The stock has a 50 day moving average of $2.32 and a 200-day moving average of $1.64.

Insiders Place Their Bets

In other news, CEO Anthony Li Hsieh sold 3,046,005 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $2.64, for a total transaction of $8,041,453.20. Following the sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 14,470,160 shares of company stock worth $40,335,701. Company insiders own 78.05% of the company's stock.

Institutional Investors Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LDI. Wilshire Advisors LLC boosted its position in shares of loanDepot by 39.8% during the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock valued at $33,000 after buying an additional 7,899 shares during the period. Los Angeles Capital Management LLC purchased a new position in loanDepot during the 2nd quarter valued at $46,000. Invesco Ltd. bought a new position in loanDepot in the 1st quarter valued at $44,000. Vanguard Personalized Indexing Management LLC increased its stake in loanDepot by 130.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company's stock worth $47,000 after purchasing an additional 21,091 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of loanDepot by 169.5% during the fourth quarter. Squarepoint Ops LLC now owns 37,764 shares of the company's stock worth $77,000 after purchasing an additional 23,752 shares during the last quarter. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

loanDepot Company Profile

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.