loanDepot (NYSE:LDI) Stock Price Down 4.4% - Here's What Happened

Key Points

• loanDepot's stock price fell by 4.4%, closing at $2.95 after trading as low as $2.91, with a significant drop in trading volume by 46% from its average.
• Analysts have mixed ratings for loanDepot, with current consensus at "Reduce" and a target price of $2.30, reflecting a shift in sentiment following recent downgrades.
• Institutional investors are actively modifying their holdings, with notable increases in positions by firms like Wilshire Advisors and Vanguard, indicating changing investor interest.

loanDepot, Inc. (NYSE:LDI - Get Free Report)'s share price was down 4.4% on Thursday . The stock traded as low as $2.91 and last traded at $2.95. Approximately 1,728,541 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 3,195,902 shares. The stock had previously closed at $3.08.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LDI shares. BTIG Research reiterated a "neutral" rating on shares of loanDepot in a research note on Wednesday, September 10th. UBS Group upped their price objective on shares of loanDepot from $1.40 to $1.90 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen lowered shares of loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $2.30.

loanDepot Price Performance

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 capitalization of $977.90 million, a P/E ratio of -8.98 and a beta of 3.45. The company's 50-day simple moving average is $2.56 and its 200 day simple moving average is $1.73.

Insiders Place Their Bets

In other loanDepot news, CAO Darren Graeler sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $4.30, for a total value of $430,000.00. Following the completion of the sale, the chief accounting officer directly owned 219,871 shares of the company's stock, valued at $945,445.30. The trade was a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Li Hsieh sold 1,350,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $4.61, for a total transaction of $6,223,500.00. The disclosure for this sale can be found here. Insiders sold 14,470,160 shares of company stock valued at $40,335,701 over the last ninety days. Corporate insiders own 78.05% of the company's stock.

Institutional Trading of loanDepot

Large investors have recently modified their holdings of the company. Wilshire Advisors LLC boosted its holdings in shares of loanDepot by 39.8% during the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock worth $33,000 after buying an additional 7,899 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of loanDepot during the 2nd quarter worth $46,000. Invesco Ltd. bought a new stake in shares of loanDepot during the 1st quarter worth $44,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of loanDepot by 130.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company's stock worth $47,000 after buying an additional 21,091 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of loanDepot by 169.5% during the 4th quarter. Squarepoint Ops LLC now owns 37,764 shares of the company's stock worth $77,000 after buying an additional 23,752 shares during the period. 39.39% of the stock is owned by institutional investors.

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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