loanDepot (NYSE:LDI) Shares Up 11.3% - Here's What Happened

loanDepot, Inc. (NYSE:LDI - Get Free Report) traded up 11.3% on Wednesday . The stock traded as high as $1.53 and last traded at $1.53. 765,807 shares were traded during trading, a decline of 17% from the average session volume of 918,387 shares. The stock had previously closed at $1.37.

Analyst Ratings Changes

Separately, UBS Group reduced their target price on loanDepot from $1.35 to $1.25 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th.

loanDepot Price Performance

The company has a 50-day moving average of $1.19 and a two-hundred day moving average of $1.56. The stock has a market capitalization of $503.11 million, a PE ratio of -2.93, a P/E/G ratio of 0.25 and a beta of 3.39. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16.

loanDepot (NYSE:LDI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The firm had revenue of $273.62 million during the quarter, compared to analysts' expectations of $275.11 million. loanDepot had a negative return on equity of 14.66% and a negative net margin of 8.95%. Sell-side analysts predict that loanDepot, Inc. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On loanDepot

A number of large investors have recently modified their holdings of the company. Atria Investments Inc raised its holdings in shares of loanDepot by 29.2% in the 4th quarter. Atria Investments Inc now owns 28,313 shares of the company's stock worth $58,000 after purchasing an additional 6,397 shares during the period. Wilshire Advisors LLC raised its holdings in shares of loanDepot by 39.8% in the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock worth $33,000 after purchasing an additional 7,899 shares during the period. Cetera Investment Advisers raised its holdings in shares of loanDepot by 11.8% in the 4th quarter. Cetera Investment Advisers now owns 103,148 shares of the company's stock worth $210,000 after purchasing an additional 10,846 shares during the period. LPL Financial LLC raised its holdings in shares of loanDepot by 39.3% in the 4th quarter. LPL Financial LLC now owns 40,035 shares of the company's stock worth $82,000 after purchasing an additional 11,286 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of loanDepot by 5.0% in the 4th quarter. Empowered Funds LLC now owns 245,189 shares of the company's stock worth $500,000 after purchasing an additional 11,647 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.