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

loanDepot, Inc. (NYSE:LDI - Get Free Report)'s share price gapped up before the market opened 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 traded.

Analysts Set New Price Targets

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

loanDepot Trading Up 8.9%

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's 50 day moving average is $1.35 and its two-hundred day moving average is $1.42. The firm has a market cap of $675.33 million, a P/E ratio of -4.57 and a beta of 3.33.

loanDepot (NYSE:LDI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.15) earnings per share 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 the consensus estimate of $275.11 million. On average, sell-side analysts predict that loanDepot, Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Philosophy Capital Management LLC lifted its stake 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 purchasing an additional 1,751,245 shares during the period. Knightsbridge Asset Management LLC raised its stake in shares of loanDepot by 0.6% in the first quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company's stock valued at $3,696,000 after acquiring an additional 17,763 shares during the last quarter. 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 acquiring an additional 971,700 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of loanDepot in the first quarter valued at approximately $1,469,000. Finally, Barclays PLC raised its stake in shares of loanDepot by 25.1% in the fourth quarter. Barclays PLC now owns 998,259 shares of the company's stock valued at $2,036,000 after acquiring an additional 200,000 shares during the last quarter. 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.