loanDepot (NYSE:LDI) Shares Gap Up - Here's Why

loanDepot, Inc. (NYSE:LDI - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $1.64, but opened at $1.83. loanDepot shares last traded at $1.95, with a volume of 774,235 shares changing hands.

Analyst Ratings Changes

Separately, UBS Group set a $1.40 price objective on loanDepot and gave the company a "neutral" rating in a research report on Wednesday.

loanDepot Price Performance

The company has a debt-to-equity ratio of 6.48, a current ratio of 1.18 and a quick ratio of 1.18. The company has a 50-day moving average price of $1.35 and a 200-day moving average price of $1.43. The firm has a market capitalization of $618.58 million, a PE ratio of -4.17 and a beta of 3.33.

loanDepot (NYSE:LDI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $273.62 million during the quarter, compared to analysts' expectations of $275.11 million. Sell-side analysts forecast that loanDepot, Inc. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On loanDepot

Several large investors have recently added to or reduced their stakes in the business. Philosophy Capital Management LLC lifted its position in loanDepot by 73.3% during the first quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company's stock worth $4,928,000 after buying an additional 1,751,245 shares during the period. Knightsbridge Asset Management LLC lifted its position in loanDepot by 0.6% during the first quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company's stock worth $3,696,000 after buying an additional 17,763 shares during the period. Cannell & Spears LLC lifted its position in loanDepot by 301.3% during the fourth quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company's stock worth $2,640,000 after buying an additional 971,700 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in loanDepot during the first quarter worth about $1,469,000. Finally, Barclays PLC lifted its position in loanDepot by 25.1% during the fourth quarter. Barclays PLC now owns 998,259 shares of the company's stock worth $2,036,000 after buying an additional 200,000 shares during the period. 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.