loanDepot (NYSE:LDI) Trading Down 7.8% Following Insider Selling

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) traded down 7.8% during trading on Thursday following insider selling activity. The stock traded as low as $1.85 and last traded at $1.85. 820,788 shares traded hands during trading, a decline of 25% from the average session volume of 1,094,812 shares. The stock had previously closed at $2.00.

Specifically, insider Jeff Alexander Walsh sold 37,514 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $2.00, for a total transaction of $75,028.00. Following the sale, the insider directly owned 4,103,237 shares of the company's stock, valued at $8,206,474. The trade was a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony Li Hsieh sold 267,326 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $2.01, for a total transaction of $537,325.26. Following the completion of the sale, the chief executive officer directly owned 9,072,771 shares in the company, valued at approximately $18,236,269.71. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Anthony Li Hsieh sold 121,597 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $2.00, for a total value of $243,194.00. Following the sale, the chief executive officer directly owned 9,340,097 shares of the company's stock, valued at approximately $18,680,194. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Separately, UBS Group upped their price target on shares of loanDepot from $1.25 to $1.40 and gave the company a "neutral" rating in a research report on Wednesday, July 16th.

loanDepot Stock Down 4.8%

The stock's 50-day moving average price is $1.43 and its 200-day moving average price is $1.42. The company has a market cap of $559.20 million, a P/E ratio of -3.77 and a beta of 3.33. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.48.

loanDepot (NYSE:LDI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates 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. As a group, research analysts forecast that loanDepot, Inc. will post -0.23 EPS for the current year.

Institutional Trading of loanDepot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aquatic Capital Management LLC bought a new position in shares of loanDepot during the fourth quarter valued at about $30,000. Alpine Global Management LLC bought a new position in loanDepot during the fourth quarter valued at approximately $33,000. Boothbay Fund Management LLC bought a new position in loanDepot in the fourth quarter valued at about $41,000. RPO LLC bought a new position in loanDepot in the 4th quarter worth $55,000. Finally, Quantbot Technologies LP bought a new stake in loanDepot during the 4th quarter worth approximately $56,000. 39.39% of the stock is currently owned by 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.