loanDepot (NYSE:LDI) Shares Gap Down - Here's What Happened

Key Points

• loanDepot shares gapped down from a previous close of $1.99 to $1.83 before trading on Thursday, with the last trade recorded at $1.96.
• UBS Group raised its price target on loanDepot from $1.25 to $1.40, maintaining a "neutral" rating on the stock.
• Recent insider trading activity includes notable sales by CEO Anthony Li Hsieh and insider Jeff Alexander Walsh, reducing their ownership stakes in the company.

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $1.99, but opened at $1.83. loanDepot shares last traded at $1.96, with a volume of 360,251 shares traded.

Analyst Upgrades and Downgrades

Separately, UBS Group increased their price objective on loanDepot from $1.25 to $1.40 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th.

loanDepot Stock Down 1.3%

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 company has a market cap of $648.27 million, a PE ratio of -5.98 and a beta of 3.35. The stock has a 50-day moving average of $1.55 and a 200-day moving average of $1.43.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 37,514 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $2.00, for a total value of $75,028.00. Following the sale, the insider owned 4,103,237 shares in the company, valued at approximately $8,206,474. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Li Hsieh sold 267,326 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $2.01, for a total value of $537,325.26. Following the sale, the chief executive officer owned 9,072,771 shares in the company, valued at $18,236,269.71. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,182,412 shares of company stock worth $2,381,655 in the last quarter. 78.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On loanDepot

Large investors have recently added to or reduced their stakes in the company. Philosophy Capital Management LLC grew its stake in shares of loanDepot by 73.3% during the first quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company's stock valued at $4,928,000 after buying an additional 1,751,245 shares during the last quarter. Knightsbridge Asset Management LLC grew its stake in shares of loanDepot by 0.6% during the first quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company's stock valued at $3,696,000 after buying an additional 17,763 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of loanDepot by 134.4% during the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company's stock valued at $2,446,000 after buying an additional 1,104,021 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of loanDepot during the first quarter valued at about $1,469,000. Finally, Wolverine Asset Management LLC grew its stake in shares of loanDepot by 15.6% during the second quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company's stock valued at $1,497,000 after buying an additional 158,739 shares during 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.

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